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On January 1, 2025, Tamarisk Corporation granted 5,500 options to executives. Each option entitles the holder to purchase one share of Tamarisk's $5 par value

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On January 1, 2025, Tamarisk Corporation granted 5,500 options to executives. Each option entitles the holder to purchase one share of Tamarisk'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 $64 per share on the date of grant. The fair value of the options at the grant date is $157,000. The period of benefit is 2 years. Prepare Tamarisk's journal entries for January 1, 2025, and December 31, 2025 and 2026. (List oll debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manuolly. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Record joumal entries in the order presented in the problem.)

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