On August 1, 2020, Ivanhoe Ltd. purchased a call option from DDR Investments Corporation. The option gave Ivanhoe the right to buy 16,000 shares in a third company, MGL. Ltd. at a price of $21.25 per share. On the day Ivanhoe purchased the option, MGL shares were trading at $21.25 each. Ivanhoe paid $900 for the options. On August 31,2020 , the MGL shares were trading at $23.00 each, and the options for MGL shares were trading at $28,600. On September 15 , Ivanhoe settled the options in cash when the MGL shares were trading at $24.00, and the options were trading at $44,000. Prepare the journal entries to record the above transactions. (Credit occount 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) (To record the acquisition of the option.) (To record the change in value of the option.) (To record the change in value of the option.) (To record the settlement of the option.) Prepare the September 15 journal entry assuming Ivanhoe accepted instead the shares in MGL. (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 tites and enter O for the amounts.) Dat Sept