Prepare journal entries and identify all the affected funds:

1) The city allows its employees to accumulate up to 30 days of annual leave and to receive pay for unused leave on termination or retirement. When it closed its General Fund books at year-end, the city owed two retired employees a total of $15,000 for unused leave, to be paid during the following month. The city also estimated that the year-to-year increase in the year-end annual leave liability for all working employees was $250,000.

2) Equity securities, carried in the city's pension fund at $3,200,000, had a fair value of $3,050,000 at year-end.