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On November 1, 2020, Nash Company adopted a stock-option plan that granted options to key executives to purchase 31,800 shares of the companys $11 par

On November 1, 2020, Nash Company adopted a stock-option plan that granted options to key executives to purchase 31,800 shares of the companys $11 par value common stock. The options were granted on January 2, 2021, 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 $30, and the fair value option-pricing model determines the total compensation expense to be $477,000. All of the options were exercised during the year 2023: 21,200 on January 3 when the market price was $64, and 10,600 on May 1 when the market price was $75 a share. Prepare journal entries relating to the stock option plan for the years 2021, 2022, and 2023. Assume that the employee performs services equally in 2022 and 2023. (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 0 for the amounts. Round intermediate calculations to 5 decimal places, e.g. 1.24687 and final answers to 0 decimal places, e.g. 5,125.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date Jan. 2, 2021Dec. 31, 2021Dec. 31, 2022Jan. 3, 2023May 1, 2023

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Jan. 2, 2021Dec. 31, 2021Dec. 31, 2022Jan. 3, 2023May 1, 2023

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Jan. 2, 2021Dec. 31, 2021Dec. 31, 2022Jan. 3, 2023May 1, 2023

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Jan. 2, 2021Dec. 31, 2021Dec. 31, 2022Jan. 3, 2023May 1, 2023

enter an account title to record the transaction on January 3, 2020

enter a debit amount

enter a credit amount

enter an account title to record the transaction on January 3, 2020

enter a debit amount

enter a credit amount

enter an account title to record the transaction on January 3, 2020

enter a debit amount

enter a credit amount

enter an account title to record the transaction on January 3, 2020

enter a debit amount

enter a credit amount

choose a transaction date Jan. 2, 2021Dec. 31, 2021Dec. 31, 2022Jan. 3, 2023May 1, 2023

enter an account title to record the transaction on May 1, 2020

enter a debit amount

enter a credit amount

enter an account title to record the transaction on May 1, 2020

enter a debit amount

enter a credit amount

enter an account title to record the transaction on May 1, 2020

enter a debit amount

enter a credit amount

enter an account title to record the transaction on May 1, 2020

enter a debit amount

enter a credit amount

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