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Current Attempt in Progress On January 1,2024, Nash Corporation granted 10,200 options to key executives....

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Accounting

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Current Attempt in Progress On January 1,2024, Nash Corporation granted 10,200 options to key executives. Each option allows the executive to purchase one share of Nash's 55 par value common stock at a price of $19 per share. The options were exercisable within a 2-year period beginning January 1.2026, if the grantec is stillemployed by the company at the time of the exercise. On the grant date, Nash's stock was trading at $25 per share, and a fair value option-pricing model determines total compensation to be $375,000. On May 1, 2026, 8,160 options were excrcised when the market price of Nash's stock was $30 per share. The remaining options lapsed in 2028 because executives decided not to exercise their options. Prepare the necessary joumal entries related to the stock option plan for the years 2024 through 2023. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem stotement.)

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