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	$	892,500			$	912,500
Albertville Schools		4,205,000				4,288,750
Richwood Township		3,940,000				3,923,750
Total	$	9,037,500			$	9,125,000

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: (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.)

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Credit Transaction Fund General Journal Debit 1. Record the investments transferred to the pool; assume that the investments 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). Investment Pool Trust U.S. Treasury Notes 912,500 Fund Certificates of Deposit 8,212,500 Due to General Fund AdditionsDeposits in Pooled InvestmentsAlbertville Schools Additions-Deposits in Pooled InvestmentsRichwood Township 912,500 4,288,750 3,923,750 2. On June 15, Richwood Township decided to withdraw $3,035,000 for a capital projects payment. At the date of the withdrawal, the fair value of the Treasury notes had increased by $32,500. 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. Investment Pool Trust Record the increase in the fair value of the Treasury notes. Fund U.S. Treasury Notes 32,500 Due to General Fund 3,250 AdditionsInvestment Earnings-Albertville Schools 15,275 Additions-Investment Earnings-Richwood Township 13,975 2b Record the withdrawal for the capital projects payment. Cash Certificates of Deposit 3,035,000 3,035,000 Record the payment of cash. DeductionsWithdrawal from Pooled InvestmentsRichwood Township 3,035,000 Cash 3,035,000 3. On September 15, interest on Treasury notes in the amount of $55,000 was collected. 3 Investment Pool Trust Cash Fund Undistributed Earnings on Pooled Investments 55,000 55,000 4. Interest on CDs accrued at year-end amounted to $33,000. Investment Pool Trust Fund Accrued Interest Receivable Undistributed Earnings on Pooled Investments 33,000 33,000 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. Investment Pool Trust Fund Undistributed Earnings on Pooled Investments 88,000 Due to General Fund 13,200 X AdditionsInvestment Earnings-Albertville Schools 62,040 AdditionsInvestment EarningsRichwood Township 12,760 X