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Recording Forfeiture of Stock Options On January 1, 2020, Holiday Inc. offered a stock option incentive plan to a top executive. The plan provided the executive 300 stock options for Holiday Inc. $1 par value, common stock at an option price of $15 per share through the expiration date of January 1, 2026. The fair value of the options based upon an option-pricing model on January 1, 2020, is $9,000. The market price at year-end of Holiday Inc. stock is $15 per share on January 1, 2020. The requisite service period is 3 years. The executive left the company on January 1, 2022. Prepare the journal entry required on January 1, 2022, assuming that the company's policy is to record forfeitures as incurred. Date Account Name Dr. Cr. 3,000 x 0 Jan. 1, 2022 Paid-in Capital-Stock Options Compensation Expense 0 3,000 X