Borner Communications articles of incorporation authorized the issuance of 130 million common shares. The transactions described below effected changes in Borner's outstanding shares. Prior to the transactions, Bomer's shareholders' equity included the following Shareholders Equity (5 in millions) Connon stock, 100 million shares at $1 par $100 Paid in capital excess of par Retained earnings 300 210 Required: Assuming that Borner Communications retres shares it reacquires (restores their status to that of authorized but unissued shares) record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (ie. 10,000,000 should be entered as 10).) 1 On January 7, 2021 Bomer teacquired 2 million shares at $5 per share 2 On August 23, 2021 Bomer reacquired 4 million shares at $3.50 per share 3. On July 25, 2022 Borner sold 3 million common shares at $6 per share No Credit 1 Answer is complete but not entirely correct. Date General Journal Debit January 07, 2021 Common stock 2,000 Paid-in capital - excess of par 6,000,000 Retained earnings 2,000,000 Cash OOO 10,000,000 2 August 23, 2021 Common stock Pald-in capital - excess of par Paid-in capital - share repurchase Cash 4,000,000 12,000,000 2,000,000 14,000,000 3 July 25, 2022 18,000,000 * Cash Common stock Paid-in capital - excess of par 00 3,000,000 15,000,000