At December 31, 2023, the balance sheet of Meca International included the following shareholders' equity accounts:

Shareholders Equity	($ in millions)
Common stock, 60 million shares at $1 par	$ 60
Paid-in capitalexcess of par	400
Retained earnings	510

Required:

Assuming that Meca International views its share buybacks as treasury stock, record the appropriate journal entry for each of the following transactions:

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

1. On February 12, 2024, Meca reacquired 1 million common shares at $10 per share.
2. On June 9, 2025, Meca reacquired 2 million common shares at $7 per share.
3. On May 25, 2026, Meca sold 2 million treasury shares at $13 per share. Determine cost as the weighted-average cost of treasury shares.
4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method.

Journal entry worksheet

• Record the reacquisition of 1 million common shares at $10 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
February 12, 2024

• Record the reacquisition of 2 million common shares at $7 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
June 09, 2025

• Record the sale of 2 million treasury shares at $13 per sharedetermine cost as the weighted average cost of treasury shares.

Note: Enter debits before credits.

• Record the sale of 2 million treasury shares at $13 per sharedetermine cost of treasury shares by the FIFO method.

Note: Enter debits before credits.