A company granted 30 million options on January 1, 2021, that permit executives to purchase 30 million of the company's $1 par common shares within the next 6 years, but not before December 31, 2023. The exercise price is the market price of the shares on the date of grant, $16 per share. The fair value of the options, estimated by an appropriate option pricing model, is $4 per option. Suppose that 60% of the options are exercised on April 3, 2024, when the market price is $19 per share. Ignoring taxes, what journal entry will the company record for exercise of the options? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet < 1 Record entry for the exercise of 60% of the options. Note: Enter debits before credits. Date April 03, 2024 General Journal Debit Credit