L&T Ltd. grants 5,000 options on 1st April, 2013 at ₹240 when the market price was ₹300 and the face value was ₹10. The vesting period was three years. The maximum exercise period was one year. 500 unvested options were lapsed on 1st May, 2014, 4,500 options were exercised on 31st March, 2017. You are required to pass necessary journal entries to record the transactions :
(i) Show Employee Compensation Expense Account and Employee Stock Option Outstanding Account.
(ii) Show extract of the Balance Sheet for the relevant items.