On January 1, 2018, Turnbull Inc. granted stock options for 50,000 of its no par value com shares to key employees, at an option price of $ 25. On that date, the market price of the cc shares was $ 23. The Black-Scholes option pricing model determined total compensation be $375,000. The options are exercisable beginning January 1, 2021, provided the key em are still employed by Turnbull at the time the options are exercised. The options expire on 2028 The amount of compensation expense Turnbull should have recorded for calendar year 2020 is 5 575000 On January 2, 2021. when the market price of the shares was $ 29 per share, all 50,000 options were exercised. Prepare the journal entry on this date Formatting example - Plest blank for Account Title, Second blank for Dr or Ct, Third blank for amount Account Title Dc/C Amount Cash Dr 9,800 Sales Discounts Dr 200 Accounts Receivable Cr 9,800 A de A CH A 7 18 6 7 00 9 R T Y U o F G H J K L B N M Ali Cor Ctrl On January 1, 2018, Turnbull Inc. granted stock options for 50,000 of its no par value com shares to key employees, at an option price of $ 25. On that date, the market price of the cc shares was $ 23. The Black-Scholes option pricing model determined total compensation be $375,000. The options are exercisable beginning January 1, 2021, provided the key em are still employed by Turnbull at the time the options are exercised. The options expire on 2028 The amount of compensation expense Turnbull should have recorded for calendar year 2020 is 5 575000 On January 2, 2021. when the market price of the shares was $ 29 per share, all 50,000 options were exercised. Prepare the journal entry on this date Formatting example - Plest blank for Account Title, Second blank for Dr or Ct, Third blank for amount Account Title Dc/C Amount Cash Dr 9,800 Sales Discounts Dr 200 Accounts Receivable Cr 9,800 A de A CH A 7 18 6 7 00 9 R T Y U o F G H J K L B N M Ali Cor Ctrl