The following information is available for Phelan City for the year ended December 31, 2022: Total governmental fund bal

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The following information is available for Phelan City for the
year ended December 31, 2022:
Total governmental fund balance was $3,000,000
The City had $1,000,000 of capital assets in place at the beginning
of the year.
The City acquired
$800,000 in capital assets during the current year.
Accumulated
depreciation including the current year depreciation on capital
assets $220,000
The City sold capital
assets with a book value of $240,000 for $250,000.
The City issued,
during the current year, $3,000,000 in general obligation bonds and
the bonds are to be used for a construction project. No other bonds
were issued in previous periods.
At the end of
the year accrued interest payable was $180,000, not legally
due.
Revenue accrued
but not available for current period use totaled $160,000.
The balance in the government-wide governmental
activities net position is equal to:
Group of answer choices
$1,160,000.
$1,310,000.
$1, 320,000.
$1,330,000.