B-Boy Jeans, Inc. awarded 2,000 options to acquire 2,000 shares of its common stock. The options have a fair value of $ 30 each and cannot be exercised until employees complete a three-year service period. The market price and the exercise price were both equal to $ 17 per share on the date of the grant. The entry on the date of the grant debited Deferred Compensation and credited Additional Paid-in Capital –Stock Options for $ 60,000. Prepare the journal entry required at the end of the first year after the options are granted.