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:

	Investments
	12/31/19				2/15/20
City of Albertville General Fund	$	899,000			$	945,000
Albertville Schools		4,218,000				4,441,500
Richwood Township		4,070,000				4,063,500
Total	$	9,187,000			$	9,450,000

Prepare the journal entries to be made in the accounts of the investment pool trust fund to record the following transactions for the first year of operations:

1. Record the investments transferred to the pool: assume that the investment's of the city's general Fund were in U.S. Treasury notes and the investments of both the schools and the township were in certificates of deposit (CDs)

2. On June 15, Richwood Township decided to withdraw 3,100,000 for a capital projects payment. At the date of the withdrawel, the fair value of the Treasury notes had increased by $39,000. Assume that the trust fund was able to redeem the CDs necessary to complete the withdrawel without a penalty but did not receive interest on the funds.

2a Record the increase in the fair value of the Treasury notes.

2b. Record the withdrawal for the capital projects payment.

2c. Record the payment of cash

3. On September 15, Interest on Treasury notes in the amount of $68,000 was collected.

4. Interest on CDs accrued at year-end amounted to $46,000.

5. At the end of the year, undistributed earnings were allocated to the investment pool participants. Assume that there were no additional changes in the fair value of investments after the Richwood Township withdrawal. Round the amount of the distribution to each fund or participant to the nearest dollar.