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Accounting for Restricted Stock AwardsGeelong Technology (GT) is a software company based in Boston.Since January 1, 2015, the company has granted restricted stock toits CEO at the beginning of each year to help boost future companyperformance. Vesting for each award occurs if the CEO staysemployed at the company for a period of two years from the grant ofthe award.The par value of the stock is $1. Grant DateNumber of sharesFair value per shareService period1/1/201510,000$61 year1/1/201615,000$82 years1/1/201715,000$102 years1/1/201820,000$113 yearsIt is now September 13, 2018 and the CEO leaves the company.** Provide in journal entry format the reversal journal entry(s)to correct the CEO's early departure. (Keep in mind the two yearaward process)