What is the journal entry for the transaction for company

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Problem 1: The company recognizes accrued expense for granted restricted stock units on June 30th. What is the journal entry for the above transaction? (year end adjusting entry)

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June 30th Under the resticted stock unit plan, the company granted restricted stock units (RSUs) representing 4 million of its $1 par common shares to various division managers. The shares are subject to forfeiture if employment is terminated within three years. The common shares had a market price of $12.50 per share on the grant date.

Reference no: EM132729643

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