On June 1, 2008 , Will Oldman, treasurer of A-One Corporation, received an option to purchase 2,000 shares of A-One $5 par value common stock for $20 per share any time during 2009 or 2010. Oldman exercised his option on May 14, 2009. The market price of the stock was $20 per share on June 1, 2008, and $25 per share on May 14, 2009. Provide the entry in journal form to record the exercise of the option on A-One's books. Show computations. (Omit explanation.)

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The Answer of On June 1, 2008 , Will Oldman, treasurer of A-One Corporation, received an option to purchase 2,000 shares of A-One $5 par value common stock for $20 per share any time during 2009 or 2010. Oldman exercised his option on May 14, 2009. The market price of the stock was $20 per share on June 1, 2008, and $25 per share on May 14, 2009. Provide the entry in journal form to record the exercise of the option on A-One's books. Show computations. (Omit explanation.)

On June 1, 2008 , Will Oldman, Treasurer of A-One