On January $1,2024,$ Bramble Corporation granted $10,100$ options to key executives. Each option allows the executive to purchase one share of Bramble'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, Bramble's stock was trading at $$26$ per share, and a fair value option$-$pricing model determines total compensation to be $$439,000.$

On May $1,2026,8,080$ options were exercised when the market price of Bramble's stock was $$29$ 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.$)$

Date

Account Titles and Explanation

Debit

Credit