On March 31, 20x2, Wesley Inc, granted 100,000 share appreciation rights to its employees. The payout formula is equal to the difference in the share price on the date of exercise less the share price on the date of grant. The vesting period ends on September 30, 20x4 and the exercise period ends on October 31, 20x3. Data on the fair values of the SAR's, the average cash out amount, the mumber of SAR's exercised, and management's estimate of the % of SAR's that will vest is as follows: Fair Value of each SAR at year-end Average cash out for exercised SARs during the year Amount of SARs exercised Date December 31, 20x2 December 31, 20x3 December 31, 20x4 October 31, 20x5 Estimate of % of SARs that will vest 85% 80% 82% 65.000 17,000 Actual percentage of SARs that have vested. Required - Write all journal entries to record the above transactions