Blossom Limited set up an ESOP that gives employees the option to purchase company shares for $$10$ per share. The option premium

cost is $$1$ per share and Blossom has set aside $10,000$ shares. On January $1,2023,$ employees purchase $8,300$ options for $$8,300.$

Subsequently, all $8,300$ options are exercised, resulting in $8,300$ shares being issued.

Prepare the journal entries to record the purchase and exercise of the options. $($Credit account titles are automatically indented when the

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all

debit entries before credit entries.$)$ January $1,$

$2023$

$($To record the purchase of the options$)$

$($To record the exercise of the options by the

employees$)$