On 1 January 20x1, ACO Corporation awarded fixed options to 100 employees to acquire 10,000 shares of the company under the following terms:

(a) The exercise price was $5 per share (same as the market price at 1 January 20x1).

(b) The fair value of the option was determined to be $1.50 using the Black-Scholes model.

(c) The share option expired five years after the date of the grant.

(d) The employees must remain employed until 31 December 20x3.

(e) The management estimated a forfeiture rate of 3%. This estimate was revised at the end of each year.

(f) In 20x1, three employees left the entity and the forfeiture rate was revised to 5% at 31 December 20x1.
(g) In 20x2, another two employees left the entity and the forfeiture rate was maintained at 5% at 31 December 20x2.
(h) In 20x3, one employee left the entity.

Required
1. Calculate the remuneration expense relating to the share options for each of the years 20x1, 20x2, and 20x3.
2. Prepare the journal entries to record the share-based transactions for the period 20x1 to 20x3.