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6. On December 31st, 2018, Carter Company adopted a stock option plan that granted options to employees to purchase 30,000 shares of the companys $10
6. On December 31st, 2018, Carter Company adopted a stock option plan that granted options to employees to purchase 30,000 shares of the companys $10 par common stock. 15,000 options were vested each year for 2 years. The exercise price of the options is $40, and they had a fair market value of $15 per option.
20,000 of the options were exercised on January 3rd, 2021, and the remaining 10,000 were exercised on May 1st, 2021.
Write all journal entries relating to these stock options, from December 31st, 2018 through May 1st, 2021.
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