Brief Exercise 16-6 On January 1, 2014, Barwood Corporation granted 5,330 options to executives. Each option entitles the holder to purchase one share of Barwood's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $68 per share on the date of grant. The fair value of the options at the grant date is $152,300. The period of benefit is 2 years. Prepare Barwood's journal entries for January 1, 2014, and December 31, 2014 and 2015. (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.) Date Account Titles and Explanation Debit Credit 12/31/14 12/31/15