Essay
McMillan Manufacturing issued 60,000 stock options to its employees.The company granted the stock options at-the-money,when the share price was $40.These options have no vesting conditions.By year-end,the share price had increased to $42.McMillan's management estimates the value of these options at the grant date to be $1.10 each.
Requirement:
Record the issuance of the stock options.
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