On December 31, 2020, 30,000 restricted stock units were granted to key employees under this plan when the market price of the common stock was \(\$ 25\) per share. The company estimates that \(15 \%\) of the restricted stock units will be forfeited and it is the company's policy to estimate forfeitures.

Required

a. Compute the total amount of compensation cost for the restricted stock unit plan.

b. Prepare the journal entry on the date of grant, December 31,2020 .

c. Prepare the journal entry on December 31, 2021.

d. Prepare the journal entry on December 31, 2022. At that time, the company adjusts its estimate of forfeitures to \(10 \%\).

e. Prepare the journal entries on December 31, 2023 to record compensation expense and distribution of shares, assuming actual forfeitures of 2,400 shares in 2023.