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Prepare Sandhill journal entries for January

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Question - On January 1, 2020, Sandhill Corporation granted 6,000 options to executives. Each option entitles the holder to purchase one share of Sandhill's common shares at $41 per share at any time after January 1, 2022. The shares' market price is $59 per share on the date of grant, and the required service period is two years.

Required - Prepare Sandhill's journal entries for January 1, 2020, and December 31, 2020 and 2021. Assume that the options' fair value as calculated using an options pricing model is $130,000. Ignore forfeitures for simplification purposes.

Reference no: EM133063432

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