On December 31, 2014, ABC Corporation issued 1,000 shares of restricted stock to its Chief Financial Officer. ABC stock had a fair value (closing market price) of $10 per share on December 31, 2014. Additional information is as follows:

a. The service period related to the restricted stock is 2 years.

b. Vesting occurs if the CFO stays with the company for a two-year period.

c. The par value of the common stock is $3 per share.

Make the appropriate accounting entry as of the grant date, 12/31/14. Note: use the alternative method as described in your textbook for deferred compensation.

I came up with the following calculation but dont know how to journalize:

1,000*$3 = 3,000 common stock

1,000*$7= 7,000 additional PIC