On January 1, 2024, Concord Corporation granted 10,100 options to key executives. Each option allows the executive to purchase one share of Concord'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, Concord's stock was trading at $26 per share, and a fair value option-pricing model determines total compensation to be $409,000. On May 1, 2026, 8,080 options were exercised when the market price of Concord's stock was $31 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 O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1, 2024 Dec. 31, 2024 Dec. 31, 2025 May 1, 2026 Jan. 1, 2028 10 Account Titles and Explanation Debit Credit

On January 1,2024, Concord Corporation granted 10,100 options to key executives Each option allows the executive to purchase one share of Concord's $5 parvalue commonstock 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, Concord's stock was tradingat $26 per share, and a fair value option-pricing model determines total compensation to be $409,000. On May 1,2026,8,080 options were exercised when the market price of Concord's stock was $31 per share. The remaining options lapsed in 2028 because executives decided not to exercise their options. Prepsre the necessary journal entries related to the stock option plan for the years 2024 through 2028, iList all debit entries before crodit entries. Credit occount titles are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter Ofor the amounts Record entries in the order displayed in the probiem statement)