january 1, 2018, richard corp granted 4800 options to its officers. Each option entitles the holder to purchase one share of richards $5 par value of common stock at $30 per share anytime for next 5 years. the market price of stock is $48 per share on date of grant. the fair value of option n date of grant is $184000. the period of benefit is 2 years.

a) prepare the december journal entry for first two years.