On January $1,2021,$ Timely, a publicly accountable entity, granted $25,000$ sto options $($valued at $$550,000,$ in total$)$ to its executives. The options have a two$-$year vesting period and expire on January $1,2024.$ The strike price for the options is $$25$ while the market price at the grant date was $$35.$

On December $31,2021,$ Timely issued a $$2,000,000,7\%$ bond with detachable warrants at par. Each $$1,000$ bond comes with a warrant valued at $$80.$ W

ithout the warrants, a similar bond would have been issued at $98$ on the market. Required: a$.$ Provide the journal entry$($ies$)$ associated with the stock options for fiscal $2021.$ b$.$ Provide the journal entry associated with the issuance of the convertible bond. S W c$.$ If Timely reported under ASPE, what alternative measurement approach$($es$)$ could be used to recognize the convertible bond?