On January $1,2021,$ Tru Fashions Corporation awarded restricted stock units $($RSUs$)$ representing $13$ million of its $$1$ par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $$6\mathrm{.}60$ per share.

Required:

Determine the total compensation cost pertaining to the RSUs.

Prepare the appropriate journal entry to record the award of RSUs on January $1,2021.$

Prepare the appropriate journal entry to record compensation expense on December $31,2021.$

Prepare the appropriate journal entry to record compensation expense on December $31,2022.$

Prepare the appropriate journal entry to record compensation expense on December $31,2023.$

Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December $31,2023.$

Complete this question by entering your answers in the tabs below.

Req $2$ to $6$

Prepare the appropriate journal entries. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).)$

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$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[$@$,1,$January $01,2021,$Compensation expense,$29,],[,,$Paid$-$in capital $-$ restricted stock,,$29],[i,2,\backslash$table$[[$December $31,],[2021]],$Compensation expense,$28\mathrm{.}5,],[,,$Paid$-$in capital $-$ restricted stock,,$28\mathrm{.}5],[i,3,\backslash$table$[[$December $31,],[2022]],$Compensation expense,$28\mathrm{.}5,],[,,$Paid$-$in capital $-$ restricted stock,,$28\mathrm{.}5],[i,,,,,],[4,\backslash$table$[[$December $31,],[2023]],$Compensation expense,$28\mathrm{.}5,],[,,$Paid$-$in capital $-$ restricted stock,,$28\mathrm{.}5],[$@$,,,,,],[5,\backslash$table$[[$December $31,],[2023]],$Paid$-$in capital $-$ restricted stock,$85\mathrm{.}8,],[,,$Common stock,,$13\mathrm{.}0]]$On January $1,2021,$ Tru Fashions Corporation awarded restricted stock units $($RSUs$)$ representing $13$ million of its $$1$ par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $$6\mathrm{.}60$ per share.

Required:

$1.$ Determine the total compensation cost pertaining to the RSUs.

$2.$ Prepare the appropriate journal entry to record the award of RSUs on January $1,2021.$

$3.$ Prepare the appropriate journal entry to record compensation expense on December $31,2021.$

$4.$ Prepare the appropriate journal entry to record compensation expense on December $31,2022.$

$5.$ Prepare the appropriate journal entry to record compensation expense on December $31,2023.$

$6.$ Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December $31,2023.$