On 5/5/2018, a CEO exercised 100 options to buy a company's stock at the $50...
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Accounting
On 5/5/2018, a CEO exercised 100 options to buy a company's stock at the $50 exercise price. The market price of the company's stock is $80 on that day. A company reissues treasury stock that originally cost $70 per share to provide the shares to the CEO.
What is the correct journal entry for the May 2018 exercise of the stock options?
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