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:

3. Record the June 15 increase in each of the participant’s funds. On June 15, Richwood Township decided to withdraw $3,095,000 for a capital projects payment. At the date of the withdrawal, the fair value of the Treasury notes had increased by $38,500. Assume that the trust fund was able to redeem the CDs necessary to complete the withdrawal without a penalty but did not receive interest on the funds. (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.)

 
 

City of Albertville General Fund Albertville Schools Richwood Township Total Investments 12/31/19 2/15/20 $ 898,500 $ 942,500 4,217,000 4,060,000 4,429,750 4,052,750 $9,175,500 $9,425,000