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Recording Shares Issued through an Employee Share Purchase Plan Rice Corporation has a stock purchase plan with the following provision. Each full-time employee with a minimum of one year's service may acquire from Rice Corporation, its common stock, $10 par, through payroll deductions at 5% below the market price on the date selected by the employee for a stock purchase (the exercise date). The exercise decision must be made within one year from the payroll deduction date. Employee Adams signed a payroll deduction agreement form on January 1, 2020, for $132 per month. At that date, the market price of the stock was $27 per share. At the end of 2020, Adams requested that stock be purchased equal to the amount Adams accumulated as a deposit. At that date, the market price of the stock was $25 per share. Required Prepare the journal entry on December 31, 2020, for the issuance of shares to Adams. Hint. The company credited LiabilityEmployee Stock Purchase Plan at the time of each payroll deduction. Note: The employee cannot purchase partial shares of stock. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Date Cr. Account Name Dec. 31, 2020 LiabilityEmployee Stock Purchase Plan Common Stock Paid-in Capital in Excess of Par-Common Stoc Dr. 1,584 x 0 0 0 X 0 0 X