n June 30, 2017, Lux Corp., a public company, granted stock options

to a select group of employees. A total of 100,000 options were granted with an

exercise price of $18. The options vested on June 30, 2020, and expire on

December 31, 2021. The fair value of the stock options at the grant date was estimated

at $460,000.

At December 31, 2017, Lux corp estimated that 93% of the options would vest. This

estimate changed to 91% and 92% on December 31, 2018, and December 31, 2019,

respectively.

On June 30, 2020, a total of 91,800 options vested. On July 6, 2020, 25,000 options

were exercised when the stock was trading at a price of $32 per share.

Lux Corp has a December 31 year end.

Required:

Prepare all journal entries to record the above transactions, for the fiscal years 2017

through 2020.