On August $1,2023,$ WMT Ltd$.$ purchased a call option from DDR Investments Corporation. The option gave WMT the right to buy $16,000$ shares in a third company, MGL Ltd$.,$ at a price of $\backslash (\backslash$$ $21\mathrm{.}50\backslash )$ per share. On the day WMT purchased the option, MGL shares were trading at $\backslash (\backslash$$ $21\mathrm{.}50\backslash )$ each. WMT paid $\backslash (\backslash$$ $600\backslash )$ for the options. On August $31,2023,$ the MGL shares were trading at $\backslash (\backslash$$ $28\mathrm{.}50\backslash )$ each, and the options for MGL shares were trading at $\backslash (\backslash$$ $40,400\backslash ).$ On September $15,$ WMT settled the options in cash when the MGL shares were trading at $\backslash (\backslash$$ $29\mathrm{.}50\backslash )$ and the options were trading at $\backslash (\backslash$$ $128,000\backslash ).$

$($b$)$

$($c$)$

Prepare the September $15$ journal entry assuming WMT accepted the shares in MGL instead of cash. $($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 $0$ for the amounts. List all debit entries before credit entries.$)$

$($To take delivery of the shares using the option.$)$