XYZ company granted 1,000 stock options to its CEO exercisable for 1,000 shares of XYZs common stock at an exercise price of $50. The options expired without being exercised when the market price of the stock was $47. In preparing the journal entry to record the expiration of the options which of the following is correct?

a. Paid-in captial - stock options is debited $50,000

or

b. paid-in capital expiration of stock options is credited $47,000