The Sakura Company issued 50,000 share appreciation rights to their employees on January 2, 20x1. The vesting period ends on June 30, 20x3 and the exercise period ends on December 31, 20x4. Data with regards to the plan is as follows: Management's estimate of SARS Average Cash paid per SAR when exercised Date vesting Dec 31, 20x1 92% Dec 31, 20x2 87% June 30, 20x3 84% (actual) Dec 31, 20x3 Fair value per SAR $4.10 4.52 3.85 Dec 31, 20x4 4.33 3.10 A total of 32,000 SARS were exercised in 20x3 and the remainder were exercised in 20x4. Required - Prepare the journal entries for the life of the SARS.