On January 1, 2020, Alaska Inc. granted restricted stock units to five executives for a total of

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On January 1, 2020, Alaska Inc. granted restricted stock units to five executives for a total of 1,000 shares of $\$ 10$ par common stock. The fair value of the shares of stock on January 1,2020 , is $\$ 60,000$. The restricted shares require a vesting period of 3 years, which is the requisite service period, and no forfeitures are anticipated.

a. Prepare the journal entry (if any) required on January $1,2020$.

b. Prepare the adjusting journal entry required on December 31, 2020.

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