Sheffield Company issues $3,700$ shares of restricted stock to its CFO, Dane Yaping, on January $1,2025.$ The stock has a fair value of $$129,000$ on this date. The service period related to this restricted stock is $4$ years. Vesting occurs if Yaping stays with the company for $4$ years. The par value of the stock is $$5.$ At December $31,2026,$ the fair value of the stock is $$131,000.$

Prepare the journal entries on January $1,2025,$ and December $31,2026,$ assuming that Sheffield issued $3,700$ shares of restricted stock units instead of $3,700$ shares of restricted stock. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record entries in the order displayed in the problem statement.$)$

Date

Account Titles and Explanation

Debit

Credit