On March 31, 20x3, an entity subject to IFRS provided their senior employees with a 40,000 stock option grant. The exercise price is $7.50 and an option valuation model values the grant at $80,000. The vesting period ends on March 31, 20x5 and the exercise period ends on December 31, 20x5.

The following are managements estimates of the % of options vesting:

December 31, 20x3 38,000 options

December 31, 20x4 36,500 options

March 31, 20x5 36,800 options actually vested

On April 1, 20x5, 20,000 options were exercised when the stock price was $26.30. On December 22, 20x5, the remaining options were exercised when the stock price was $19.40.

Required Write all journal entries for the above.