XYZ Co. issues 3,000 shares of restricted stock to the CEO on January 1, 2018. The stock has a fair value of $236,000 on this date. The service period related to the stock is 5 years. Vesting occurs after 5 years from the date of issue. Par value of the stock is $10 per share. At December 31, 2019, market value of the stock is $240,000.

Prepare a journal entry for: a) January 1, 2018 b) December 31, 2018 c) December 31, 2019 d) Assume the CEO left XYZs employment on June 10, 2020. Prepare a journal entry to account for the forfeiture.