On January 1, 2017, ABC Corporation granted 4,500 options to executives. Each option entitles the holder to purchase one share of ABC'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 $70 per share on the date of grant. The fair value of the options at the grant date is $600,000. The period of benefit is 3 years. On Jan 15, 2022, executives exercised 2,250 options. At the time of the exercise, the stock price is $60. Prepare ABC's journal entries. 1 i FT: BIO E & Question 7 Not yet answered ABC Corporation granted 1,000 shares of restricted $7 par value common stock to executives On January 1, 2017. The market price (fair value) of the stock is $60 per share on the date of grant. The period of benefit is 2 years. Prepare ABC's journal entries. Points out of 9 P Flag question 1 i BIO