Darlington Inc., permits any of its employees to buy shares directly from the company. There are no brokerage fees and shares can be purchased at a 10% discount. During May, employees purchased 14,000 shares at a time when the market price of the shares was $10 per share.
Prepare the appropriate journal entry for the May purchase.
Record the employees' purchase of 14,000 shares, when the market price was $10 per share, at a 10% discount without any brokerage fees.
