What statement is true, Chad recently won a lottery and he gave $50,000 to his brother,, Financial Accounting

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What statement is true

Problem

Chad recently won a lottery and he gave $50,000 to his brother, Mortimer, as a gift. From this amount received from Chad, Mortimer used $10,000 to set up a trust for his 14-year-old daughter, Andrea, and another $10,000 to set up a second trust for his 19-year-old son, Bob. Each trust earned interest income of $800 during the first year. What statement is true?

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