On January $1,2024,$ Goncalves Corporation granted $1,000,$ $$1$ par, restricted shares of its common stock to one employee. The shares vest if the employee stays with the company for $3$ years. The fair value of the shares on January $1$ is $$15$ per share. Goncalves elects to account for forfeitures as they happen.

Required:

Record the journal entry on January $1,2024($the date of grant$)$ for this compensation plan.

Record the journal entry on December $31,2024$ to recognize compensation expense.

Show the accounts related to this compensation plan and their balances on December $31,2024.$

Suppose the employee resigned on January $1,2025.$ Record the entry on that date to reflect the financial statement impact of the resignation.