An entity has purchased bonds (a debt security) for $1,000 on October 18, 2019. They have classified the investment as available for sale. At their year-end, December 31, 2019, the value of the bond increase to $2,000. They would like to know how they should account for this unrealized gain of $1,000.

Please identify the location in professional standards that indicates how the entity is required to report this unrealized gain in their financial statements.

Please provide the exact FASB codification reference that would assist the entity with this unrealized gain. section (For example, correctly formatted FASB ASC paragraphs are 1, 2, or 3 digits followed in some cases by 1 or 2 upper case letters. An example of a correctly formatted FASB ASC response is 205-10-25-2.)