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 $2024$ with investments in U$.$S$.$ government securities totaling $$1,301,000,$ no liabilities, and Restricted Net Position of $$1,301,000.$

The County and school district deposited $$3,179,000$ in the investment pool.

The investment trust fund invested $$733,000$ in corporate bonds and $$2,446,000$ in U$.$S$.$ government securities$.$

Interest received by the investment trust fund totaled $$115,000$ for the year.

At year$-$end, the fair value of the corporate bonds had increased by $$1,700.$

The earnings of the fund $($there are no expenses$)$ are allocated among the accounts of the participating governments.

Throughout the year, the participating governments withdrew $$3,264,000$ 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 Civic Scholarship Fund.

b$.$ Prepare a Statement of Changes in Fiduciary Net Position for the Civic Scholarship Fund for the year ended June $30,2024.$

Complete this question by entering your answers in the tabs below.

Required A

Record the above transactions in the books of the Civic Scholarship Fund.

Note: If no entry is required for a transaction or event, select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

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The County and school district deposited $$3,179,000$ in the investment pool.