Current Attempt in Progress On August 1, 2023, JWJ Ltd. purchased a call option from DDR Investments Corporation. The option gave JWJ the right to buy 14,000 shares in a third company, MGL Ltd., at a price of $21.25 per share. On the day JWJ purchased the option, MGL shares were trading at $21.25 each. JWJ paid $600 for the options. On August 31, 2023, the MGL shares were trading at $22.25 each, and the options for MGL shares were trading at $28,400. On September 15, JWJ settled the options in cash when the MGL shares were trading at $23.50 and the options were trading at $31,500. (b) Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Date Account Titles and Explanation Debit (To record the change in value of the option.) (To record the settlement of the option.)