Employee Stock Purchase PlanWe have an ESPP for all eligible employees. Shares of our common stock may be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. Employees may purchase shares having a value not exceeding 15% of their gross compensation during an offering period. Employees purchased the following shares during the periods presented: (Shares in millions) Year Ended June 30, 2020 2019 2018 Shares purchased 9 11 13 Average price per share $142.22 $104.85 $76.40 As of June 30, 2020, 96 million shares of our common stock were reserved for future issuance through the ESPP. Required: Prepare the journal entry that summarizes Microsoft's employee share purchases for the year ending June 30, 2020

Answer rating: 100% (QA)

Journal Entry for Employee Stock Purchases ESPP Date June 30 2020 Transaction To record employee sto... View the full answer