The fair values of the Bruni Independent School District (BISD) General Fund investments, all subject to the fair value provisions of GASB Statement No. 31, were:

During the 20X3€“20X4 fiscal year, the BISD purchased and sold securities as follows:

Required
(1) Compute the net change in the fair value of the BISD investment using
(a) The specific identification method
(b) The aggregate method.
(2) Prepare the general journal entry required to record the net change in the fair value of the General Fund investmentportfolio.

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Fair Value 1120X3 nVeSUmen 20X363020x4 $10,000 4,000 29,000 5,000 20,000 15,40 40,0X00 Sales Proceeds $ 7,000 In Cost of Purchases vestment 5 20,000 19,000 13,000 43,000