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Question 7 On 5/5/2018, a CEO exercised 100 options to buy a companys stock at the $50 exercise price. The market price of the companys

Question 7 On 5/5/2018, a CEO exercised 100 options to buy a companys stock at the $50 exercise price. The market price of the companys stock is $60 on that day. A company reissues treasury stock that originally cost $30 per share to provide the shares to the CEO. What is the correct journal entry for the May 2018 exercise of the stock options?

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