On January 1, Forrester County is holding investments for Tinsel Town valued at $500,000 in an investment pool, accounted for in an investment trust fund. On January 1, Valley School District invests $1,500,000 in the pool. Earnings on pooled investments for the six months ended June 30 totaling $300,000 were received in cash. 1) What percentage interest in the pool is held by the town and the school district? Town Interest 25 School district 75 % % 2) (a) Show the entry in the Investment Trust Fund to record the School District's investment in the pool. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No A Transaction 01 General Journal Cash Debit 2,000,000 Credit Additions-Deposits in Pooled Investments-Valley School Distr 1,500,000 Additions-Deposits in Pooled Investments-Tinsel Town *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 500,000 (b) Show the entry in the Investment Trust Fund to summarize the collection of interest for the six-month period. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No A Transaction 01 General Journal Cash Undistributed Earnings on Pooled Investments Debit 300,000 Credit 300,000 (c) Show the entry in the Investment Trust Fund to record the distribution of the interest earned on pooled investments, assuming that the interest will be reinvested by the town and school district. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Transaction A 01 General Journal Debit Credit Additions-Deposits in Pooled Investments-Tinsel Town 75,000 Additions-Deposits in Pooled Investments-Valley School District 225,000 300,000 Cash *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted.