Ayayai Corp. purchased a put option on Wildhorse common shares on July 7, 2021, for $90. The put option is for 210 shares, and the strike price is $28. The option expires on January 31, 2022. The following data are available with respect to the put option:

Date		Market Price of Wildhorse Shares			Time Value of Put Option
September 30, 2021		$30	per share		$50
December 31, 2021		$29	per share		20
January 31, 2022		$31	per share		0

Prepare the journal entries for Ayayai Corp. for the following dates:

(a)		July 7, 2021Investment in put option on Wildhorse shares.
(b)		September 30, 2021Ayayai Corp. prepares financial statements.
(c)		December 31, 2021Ayayai Corp. prepares financial statements.
(d)		January 31, 2022Put option expires.

(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
July 7, 2021September 30, 2021December 31, 2021January 31, 2022
July 7, 2021September 30, 2021December 31, 2021January 31, 2022
July 7, 2021September 30, 2021December 31, 2021January 31, 2022
July 7, 2021September 30, 2021December 31, 2021January 31, 2022

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