On November 1, 2017, Teal Company adopted a stock option plan that granted options to key executives to purchase 22,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $39, and the fair value option pricing model determines the total compensation expense to be $360,000. All of the options were exercised during the year 2020:5.500 on January 3 when the market price was $67, and 16,500 on May 1 when the market price was $78 a share Prepare journal entries relating to the stock option plan for the years 2018, 2019 and 2020. Assume that the employee performs services equally in 2018 and 2019. (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 for the amounts.) Debit Credit Date Account Titles and Explanation (To record options granted) (To record compensation expense for 2018) | (To record compensation exponse for 2019) -18