M&M Company offers all its 2,000 employees the opportunity to participate in an employee share-purchase plan. Under the terms of the plan, the employees are entitled to purchase 200 ordinary shares (par value 2 per share) at a 10 percent discount. The purchase price must be paid immediately upon acceptance of the offer. In total, 1,600 employees accept the offer, and each employee purchases on average 160 shares. That is, the employees purchase a total of 256,000 shares. The weighted-average market price of the shares at the purchase date is 20 per share. Required: Prepare the journal entry needed