As part of its stock-based compensation package, on January 1, 2024, International Electronics granted restricted stock units (RSUs) representing 110 million $1 par common shares. At exercise, holders of the RSUs are entitled to receive cash or stock equal in value to the market price of those shares at exercise. . The RSUs cannot be exercised until the end of 2027 (vesting date) and expire at the end of 2029. The $1 par common shares have a market price of $6 per share on the grant date. The fair value at December 31, 2024, 2025, 2026, 2027, and 2028, is $8, $6, $8, $5, and $6, respectively. All recipients are expected to remain employed through the vesting date. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. Required: 1. to 3. Prepare the appropriate journal entries pertaining to the RSUs on January 1, 2024 and December 31, 2024-December 31, 2027. The RSUs remain unexercised on December 31, 2028, prepare the appropriate entry. 4.The RSUs are exercised on June 6, 2029, when the share price is $6.50, and executives choose to receive cash. Prepare the appropriate journal entry(s) on that date. No 1 General Journal Debit Credit Date January 01, 2024 No journal entry required December 31, 2 2024 Compensation expense Liability - RSUs December 31, 3 Compensation expense 2025 Liability - RSUs 4 December 31, 2026 Compensation expense Liability - RSUs December 31, 5 Liability - RSUs 2027 Compensation expense December 31, 6 2028 Compensation expense Liability - RSUs Req 1 to 3 Req 4 > No Date 1 June 06, 2029 Compensation expense Liability - RSUs 2 June 06, 2029 Liability - RSUS Cash General Journal Debit Credit < Req 1 to 3 Req 4