XYZ Compnay granted 1,000 stock options to its CEO exercisable for 1,000 shares of XYZ's 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 entry to record the expiration of the options, which of the following is correct?

a. paid-in capital - stock options is debited $50,000

b. compensation expense is credited $50,000

c. no journal entry is needed.

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