XXX Inc. has a large amount of cash on hand that is not needed for current operations. The CFO has decided to invest that cash in short-term available for sale common stock in other corporations. On 4/3/2016 the company invested in 10,000 shares of PG&E. Common stock which was returning a 4 % interest rate. The price of the stock including a brokerage fee on that date was $38 per share. On 4/3/2016 PG&E had 10 million shares of common stock outstanding. On 4/30/2016 PG&Es common stock price was $34 per share. On 5/28/2016 MaganCo Inc. receives a dividend check from PG&E for $3,985. On 5/31/2016 PG&Es common stock was selling for $42 per share. On 6/3/2016 MeganCo Inc. sold all of its stock in PG&E for $45 per share.

Required: Assume that MeganCo Inc. makes adjusting entries at the end of the each month to account for the fair market value of the PG&E stock. Make all of the required general journal and adjusting entries to record the above transactions.