Ivanhoe corporation

On January 1, 2020, Ivanhoe Corporation granted 6,400 options to executives. Each option entitles the holder to purchase one share of Ivanhoe's common shares at $42 per share at any time after January 1, 2022. The shares' market price is $59 per share on the date of grant, and the required service period is two years. Prepare Ivanhoe's journal entries for January 1, 2020, and December 31, 2020 and 2021. Assume that the options' fair value as calculated using an options pricing model is $128,000. Ignore forfeitures for simplification purposes. (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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit 1/1/20 12/31/ 20 12/31/21 v