Question: MacroApps Corporations disclosure notes for the year ending June 30, 2020, included the following regarding its $0.00000625 par common stock: Employee Stock Purchase PlanWe have
MacroApps Corporations disclosure notes for the year ending June 30, 2020, included the following regarding its $0.00000625 par common stock: 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 80% of the fair market value on the last trading day of each three-month period. Employees may purchase shares having a value not exceeding 20% 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 11.0 13.0 15.0 Average price per share $ 146.62 $ 109.25 $ 80.80 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 MacroAppss employee share purchases for the year ending June 30, 2020.
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