Under its executive stock option plan, National Corporation granted 30 million options on January 1, 2018,...

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Under its executive stock option plan, National Corporation granted 30 million options on January 1, 2018, that permit execut

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Answer 1

Answer #1

Date	General Journal	Debit	Credit
Apr 3, 2021	Cash (30 million*$27)	810
	Paid in Capital-Stock Options (30 million*$4)	120
	Common Stock (30 million*$1 par)		30
	Paid in Capital-in excess of par (Bal. fig)		900
	(To record exercise of options)

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Answer 2

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