In June 2003, Hatch Company had no investment securities but had excess cash that would not be needed for nine months. Management decided to use this money to purchase trad- ing securities as a short-term investment. The following transactions relate to the invest- ments: July 16 Purchased 4,000 shares of Eli Corporation stock. The price paid, including brokerage fees, was $41,880. Sep..23 Received a cash dividend of $0.90 per share on the Eli stock. 28 Sold 2,000 shares of Eli Corporation stock at $11 per share. Paid a selling commission of $160. Dec. 31 The market value of Eli’s stock was $11.25 per share. Given these data, prepare the journal entries to account for Hatch’s investment in Eli Corpo- ration stock.