On August 2 2020 FCS granted 15,000 stock options (valued at $19 each) to its executives.Half of these options were granted to the CEO Chuck Lemieux.The options have a one-year vesting period and expire onJuly 31, 2026.The strike price for the options is $40 while the market price at the grant date was $54.

Chuck Lemieux exercised all his options on July 31, 2021, when FCS shares were trading for $57.No other options were exercised.

OnJuly 1, 2021FCS received delivery of some equipment it had ordered from a French manufacturer.On the same dayFCS entered into a forward contract to purchase onAugust 31, the payment due date.The amounts for both the purchase contract and the forward contract were 900,000.Forward rates quoted in CAD/ were as follows:

June 1, 2020 1.5374

June 30, 2020 1.5613

July 31, 2020 1.5402

FCS has a July 31 year end.

(a)Provide the journal entry(ies) associated with the stock options for fiscal 2021.