Current Attempt in Progress

On January $1,2021,$ Crane Inc. granted stock options to officers and key employees for the purchase of $21,000$ shares of the

company's $$10$ par common stock at $$25$ per share. The options were exercisable within a $5-$year period beginning January $1,2023,$ by

grantees still in the employ of the company, and expiring December $31,2027.$ The service period for this award is $2$ years. Assume that

the fair value option$-$pricing model determines total compensation expense to be $$328,400.$

On April $1,2022,2,100$ options were terminated when the employees resigned from the company. The market price of the common

stock was $$36$ per share on this date.

On March $31,2023,12,600$ options were exercised when the market price of the common stock was $$40$ per share.

Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and

charges to compensation expense, for the years ended December $31,2021,2022,$ and $2023.($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.$)$