Borner Communications articles of incorporation authorized the issuance of 135 million common shares. The transactions described below effected changes in Borners outstanding shares. Prior to the transactions, Borners shareholders equity included the following: Shareholders Equity ($ in millions) Common stock, 120 million shares at $1 par $ 120 Paid-in capitalexcess of par 360 Retained earnings 230 Required: Assuming that Borner Communications retires 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 (i.e., 10,000,000 should be entered as 10).) On January 7, 2018, Borner reacquired 3 million shares at $7.00 per share. On August 23, 2018, Borner reacquired 5 million shares at $3.00 per share. On July 25, 2019, Borner sold 4 million common shares at $8 per share.