(Investment RevenueCity of Phoenix, Arizona) The City of Phoenix, Arizona, has a variety of General Fund investments. The city had General Fund investments at July 1, 20X5, with a fair value of $29,269,000 and accrued interest receivable of $71,000. (a) Record the following transactions for the City of Phoenix, General Fund, assuming that fair value accounting applies to all General Fund investments. (b) Assuming that the investments are investments of unrestricted resources that have not been committed or assigned to a specific purpose, which GAAP fund balance classification will be affected by the investment income?

• 1.
• The city collected $21,000,000 as General Fund investments matured (including $1,000,000 of interest).
• 2.
• The city purchased $98,978,000 of investments for the General Fund.
• 3.
• The city collected interest on its General Fund investments of $19,157,000 during the fiscal year.
• 4.
• Accrued interest at June 30, 20X6, was $129,000.
• 5.
• The fair value of Phoenixs General Fund investments at June 30, 20X6, was $101,910,000.

(Based on a recent City of Phoenix, Arizona, Comprehensive Annual Financial Report.)