Brief Exercise 16-7 On January 1, 2017, Sheffield Corporation granted 1,900 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $66 per share on the date of grant. The period of benefit is 2 years. Prepare Sheffields journal entries for January 1, 2017, and December 31, 2017 and 2018.

	Account Titles	Debit	Credit
1/1/2017	?
	?
	?
12/31/2017	?
	?
12/31/2018	?
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