Problem 17-15 Warren Co. purchased a put option on Echo common shares on January 7, 2014, for $385. The put option is for 600 shares, and the strike price is $85 (which equals the price of an Echo share on the purchase date). The option expires on July 31, 2014. The following data are available with respect to the put option. Date Market Price of Echo Shares Time Value of Put Option March 31, 2014 $82 per share $241 June 30, 2014 84 per share 85 79 per share July 6, 2014 29 Prepare the journal entries for Warren Co. for the following dates. (a) January 7, 2014. nvestment in put option on Echo shares (b) March 31, 201 en prepares financial statements. (c) June 30, 2014. en prepares financial statements (d) July 6, 201 en settles the put option on the Echo shares (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.)