Restricted stock awards for 5,000 shares of common stock (par \$5) are granted to the CEO of Siri Inc. The restricted shares will be awarded to the CEO after 4 years from the date of grant. The shares vest if the CEO remains with the company for the full 4 years. The market price of the stock at the date of grant, January 2, 2020, is \(\$ 20\) per share and increases to \(\$ 25\) per share on December 31, 2020. Siri records forfeitures as they occur.

Required

a. Prepare the journal entry on the date of grant, January 2, 2020.

b. Prepare the journal entry on December \(31,2020\).

c. On July 1, 2023, the CEO leaves Siri Inc. Prepare the entry on July 1, 2023, to account for the forfeiture of the restricted shares of stock by the CEO. Assume that the last adjusting entry recorded for the restricted stock was on December 31, 2022.