connect cancel print [The following information applies to the questions displayed below.] The Albertville City Council decided to pool the investments of its General Fund with Albertville Schools and Richwood Township in an investment pool to be managed by the city. Each of the pool participants had reported its investments at fair value as of the end of 2019. At the date of the creation of the pool, February 15, 2020, the fair value of the Investments of each pool participant was as follows: City of Albertville General Fund Albertville Schools Richwood Township Total 4. Award: 8.33 points Investments 12/31/19 2/15/20 $ 892,000 $ 910,000 4,204,000 3,930,000 $9,026,000 4.277,000 3,913,000 $9,100,000 Required a. Prepare the journal entries that should be made by the City of Albertville, Albertville Schools, and Richwood Township on February 15 to record their participation in the investment pool. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Transaction Fund General Journal Debit Credit 1. The Albertville City Council decided to pool the investments of its General Fund with Albertville Schools and Richwood Township in an investment pool to be managed by the city. 1 References City of Albertville General Fund Albertville Schools Richwood Township Journal Entries Difficulty: 3 Hard Leaming Objective: 08-03 Explain the purpose, accounting, and financial reporting for investment trust and private-purpose trust funds. 2022 McGraw-Hill Education. All rights reserved