On January $1,2024,$ Tru Fashions Corporation awarded restricted stock units $($RSUs$)$ representing $6$ million of its $$1$ par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $$8\mathrm{.}70$ per share.

Required:

Determine the total compensation cost pertaining to the RSUs.

Journal entry worksheet Assessment Tool I Frame

$1$

$2$

$3$

$4$

$5$

Record the award of RSUs on January $1,2024.$

Note: Enter debits before credits. Complete this question by entering your answers in the tabs below.

Assessment Tool iFrame

Determine the total compensation cost pertaining to the RSUs.

Note: Enter your answer in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Prepare the appropriate journal entry to record the award of RSUs on January $1,2024.$

Prepare the appropriate journal entry to record compensation expense on December $31,2024.$

Prepare the appropriate journal entry to record compensation expense on December $31,2025.$

Prepare the appropriate journal entry to record compensation expense on December $31,2026.$

Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December $31,2026.$