1. [The following information applies to the questions displayed below.]

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	$	896,500			$	932,500
Albertville Schools		4,213,000				4,382,750
Richwood Township		4,020,000				4,009,750
Total	$	9,129,500			$	9,325,000

b: 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

3. Record the June 15 increase in each of the participants funds. On June 15, Richwood Township decided to withdraw $3,075,000 for a capital projects payment. At the date of the withdrawal, the fair value of the Treasury notes had increased by $36,500. 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.)

2. [The following information applies to the questions displayed below.]

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	$	896,500			$	932,500
Albertville Schools		4,213,000				4,382,750
Richwood Township		4,020,000				4,009,750
Total	$	9,129,500			$	9,325,000

4. On June 15, Richwood Township decided to withdraw $3,075,000 for a capital projects payment. At the date of the withdrawal, the fair value of the Treasury notes had increased by $36,500. 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. On September 15, interest on Treasury notes in the amount of $63,000 was collected. Interest on CDs accrued at year-end amounted to $41,000. 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. Record the change in each participant's Equity in Pooled Investment account due to the September 15 treasury interest and December 31 CD interest accrual. (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.)