Borner Communications' articles of incorporation authorized the issuance of 140 million common shares. The transactions described below effected changes in Borner's outstanding shares. Prior to the transactions, Borner's shareholders' equity included the following: Shareholders' Equity ($ in millions) Common stock, 125 million shares at $1 par $125 Paid-in capital - excess of par 375 Retained earnings 235 Required: Assuming that Bomer 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 flrst account field. Enter your answers in millions (l.e., 10,000,000 should be entered as 10).) 1. On January 7, 2021. Borner reacquired 2 million shares at $7.50 per share. 2. On August 23.2021. Borner reacquired 4 million shares at $3.00 per share. 3. On July 25, 2022, Borner sold 3 million common shares at $9 per share. View transaction list Journal entry worksheet 1 2 3