On November 1, 2025, Nash Company adopted a stock-option plan that granted options to key executives to purchase 26,700 shares
of the company's $9 par value common stock. The options were granted on January 2, 2026, and were exercisable 2 years after the
date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was
set at $30, and the fair value option-pricing model determines the total compensation expense to be $400,500.
All of the options were exercised during the year 2028: 17,800 on January 3 when the market price was $68, and 8,900 on May 1 when
the market price was $78 a share.
Prepare journal entries relating to the stock option plan for the years 2026, 2027, and 2028. Assume that the employee performs
services equally in 2026 and 2027. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is
entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Do not round
intermediate calculations. Round answers to 0 decimal places, e.g. 5,125. Record entries in the order displayed in the problem statement.)