Sandhill Ltd. has an executive stock option plan, details of which follow: - The plan entitles the CEO to purchase 8,400 common shares at $25 each, following a vesting period. - The vesting period is January 1, 2023 through December 31, 2024. - The exercise period is January 1, 2025 through December 31, 2027. - The CEO exercises 6,100 of the stock options on June 30, 2025. The rest of the options are allowed to lapse. - The shares' market prices per share are as follows: Sandhill uses an option-pricing model to value the stock options. When granted, the options are estimated to have a fair value of $4 each. This estimate remains unchanged during the vesting period. Assuming that Sandhill has a December 31 year end, prepare the required journal entries as at the following dates. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles Debit Credit Jan. 1, 2023 Dec. 31, 2023 June 30, 2025 Jan. 1, 2028