6) Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares.

January 4, 2018: Repurchased and retired 1 million shares at $8 per share.

June 25, 2018: Repurchased and retired 2 million shares at $2 per share.

Prior to the transactions, CCC's shareholders' equity included the following:

Common stock, 80 million shares at $1 par $80,000,000

Paid-in capitalexcess of par 160,000,000

Retained earnings 120,000,000

Required: Record entries for the above transactions.