On January $1,2025,$ Metlock Corporation granted $4,800$ options to executives. Each option entitles the holder to purchase one share of Metlock's $$5$ par value common stock at $$50$ per share at any time during the next $5$ years. The market price of the stock is $$66$ per share on the date of grant. The fair value of the options at the grant date is $$149,000.$ The period of benefit is $2$ years.

Prepare Metlock's journal entries for January $1,2025,$ and December $31,2025$ and $2026.($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 journal entries in the order presented in the problem.$)$

$$ Account Titles and Explanation

Debit

Credit