In the journal provided, prepare journal entries (in good form) for the following transactions. If no entry is required, write "no entry." Omit explanations.
Definitions:
Option Contracts
Agreements between two parties granting one the option to buy or sell a security at a predetermined price within a certain time period.
Strike Price
The specified price at which the option holder can buy (call option) or sell (put option) the underlying asset or security until the expiration date.
Increase Value
Enhancing the worth or profitability of an asset or company through various strategies and operations.
Teamsters Union
A labor union representing a diverse membership of blue-collar and professional workers in various industries across the United States and Canada.
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