In order to encourage employee ownership of the company's $1 par common shares, T corp , permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokeage fees and shares can be purchased at a $10 per hsare. During June, employees purchased 150,000 shares at a time when the market price of the shares on the New York Stock exhcnage was $15 per share.

Requried: Prepare the appropriate journ'al entry to record the June purchases of shares under the employeee share purchase plan