Splish Company issues 4200 shares of restricted stock to its CFO, Dane Yaping, on Januar 1, 2025. The stock has fair value of $123,000 on this date. The service period related to its restricted stock is 4 years. Vesting occurs if Yaping stays with the company for 4 years. The par value of the stock is $4. At December 31, 2026, the fair value of the stock is 135,000.

Prepare the journal entries on January 1, 2025, and December 31,2026, assuming that Splish issued 4,200 shares of restricted stock units instead of 4,200 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.)