On January $1,2024,$ Bonita Corporation granted $10,000$ options to key executives. Each option allows the executive to

purchase one share of Bonita's $$5$ par value common stock at a price of $$20$ per share. The options were exercisable

within a $2-$year period beginning January $1,2026,$ if the grantee is still employed by the company at the time of the

exercise. On the grant date, Bonita's stock was trading at $$24$ per share, and a fair value option$-$pricing model

determines total compensation to be $$405,000.$

On May $1,2026,8,000$ options were exercised when the market price of Bonita's stock was $$30$ per share. The

remaining options lapsed in $2028$ because executives decided not to exercise their options.

Prepare the necessary journal entries related to the stock option plan for the years $2024$ through $2028.($List all

debit entries before credit entries. Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry$*$ for the account titles and

enter $0$ for the amounts. Record entries in the order displayed in the problem statement.$)$