Decibee, Inc. has a restricted stock award plan for its employees. It grants 220,000 of its
$2.00 par common stock to its selected employees on January 1, 2014 with a vesting
period of two years.
The day after the vesting date, the restricted stock is converted into common stock
The market rate of the stock on January 1, 2014 is $7.30 per share
Record the general journal entry for January 2, 2016