The City of St. John operates an investment trust fund for neighboring governments, including St. John County and the independent school district. Assume the investment trust fund began the year 2020 with investments in US government securities totaling $1,300,000, no liabilities, and Restricted Net Position of $1,300,000.

1. The county and school district deposited $3,300,000 in the investment pool.
2. The investment trust fund invested $1,300,000 in corporate bonds and $2,000,000 in US government securities.
3. Interest received by the investment trust fund totaled $40,000 for the year.
4. At year-end, the fair value of the corporate bonds had increased by $6,000.
5. The earnings of the fund (there are no expenses) are allocated among the accounts of the participating governments.
6. Throughout the year, the participating governments withdrew $3,130,000 of funds from the investment trust fund. Assume that an equal amount of short-term investments were converted to cash as they matured.

Required: a. Record the above transactions in the books of the investment pool. b. Prepare a Statement of Changes in Fiduciary Net Position for the investment pool for the year ended June 30, 2020.