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Prepare the journal entries for January

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Question - On January 1, 2020 (the date of grant), Splish Corporation issues 1,800 shares of restricted stock to its executives. The fair value of these shares is $99,000, and their par value is $9,000. The stock is forfeited if the executives do not complete 3 years of employment with the company.

Required - Prepare journal entries for January 1, 2020, and on December 31, 2020, assuming the service period is 3 years.

Reference no: EM132656625

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