The following information is from the books of OZP Farms, Inc. regarding its employee stock options. The firm granted options on January 2, 2022, that permit employees to acquire 100,000 shares of $1.20 par value common stock at an exercise price of $4.80 per share. The market price of the company’s shares on January 2, 2022, was also $4.80 per share, so there is no intrinsic value on the date of the grant. Employees must complete a 2-year service (vesting) period in order to exercise the options. The options will expire after a 5-year period (total option period). At the grant date, the estimated fair value of the options using the Black-Scholes option-pricing model is $850,000 (i.e., 100,000 shares × $8.50 per share). The firm assumes that the initial vesting probability is 100%. The option plan qualifies as an equity-classified award. Assuming no changes in vesting probability, prepare the journal entries required to record compensation expense over the vesting period.