On 1 July 2020, Tara Ltd grants 500 share application rights (SARs) to each of its 800 employees, conditional upon the employees remaining in service for the next two years. The SAR scheme entitles each employee to a payment in cash equal to the application in Taras share price over the two-year period. At the grant date, it is expected that 80% of employees will still be in service on the vesting date. This estimate remains unchanged at 30 June 2021. The number of employees in service on 30 June 2022 is 620.Tara Ltd estimates the fair values of the SARs at the end of each year in which a liability exists as follows. $18 (30 June 2021) and $20 (30 June 2022). The full liability was settled on 30 June 2021.

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Prepare the journal entries to record these events for years ending 30 June 2021 and 30 June 2022.