Question: Record the compensation expense. Record the compensation expense. Record issuance of stock award. Allied Paper Products, Incorporated offers a restricted stock award plan to its

Record the compensation expense.
Record the compensation expense.
Record issuance of stock award.

Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company granted 20 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common share have a market price of $8 per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10 )

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