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What is the entry  to record the compensation expense in 2018 and the entry to record upon exercise?

What is the entry  to record the compensation expense in 2018 and the entry to record upon exercise?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Case 2
On January 1, 2018, Olaf company granted share options to key employees to 
supplement their compensation. The options given were 200,000 ordinary shares of 
P10 par value at an option price of P15 per share. The market price of this share on 
January 1, 2018 was P20. The fair value of each share option on January 1, 2018 is 
P8. The options were exercisable beginning January 1, 2018 and expire on December 
31, 2020. On December 31, 2018, all share options were exercised. What is the entry 
to record the compensation expense in 2018 and the entry to record upon exercise? 

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