An entity grants 100 share options on its $1 shares to each of its 500 employees on 1 January 20X5. Each grant is conditional upon the employee working for the entity over the next three years. The fair value of each share option as at 1 January 20X5 is $13.

On the basis of a weighted average probability, the entity estimates on 1 January that 20% of employees will leave during the 3-year period and therefore forfeit their rights to share options.

25 employees leave during 20X5 and the estimate of total employee departures over the 3-year period is revised to 15% (75 employees).

24 employees leave during 20X6 and the estimate of total employee departures over the 3-year period is revised to 13% (65 employees).

17 employees leave during 20X7, so a total of 66 employees left and forfeited their rights to share options. A

Required

Provide the accounting entries which will be required over the three-year period in the event of the above.