Borner Communications' articles of incorporation authorized the issuance of 175 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: ShareholdersEquity Common stock, 160 million shares at $1 par Paid-in capital - excess of par Retained earnings (San Millions) $160 480 270 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 first account field. Enter your answers in millions (ie., 10,000,000 should be entered as 10).) 1. On January 7, 2021, Borner reacquired 4 million shares at $5.00 per share, 2. On August 23, 2021, Bomer reacquired 6 million shares at $3.00 per share 3. On July 25, 2022, Borner sold 5 million common shares at $7 per share View transaction list X 1 Record the reacquisition of 4 million shares by Borner. 2 Record the reacquisition of 6 million shares by Borner. Record the sale of 5 million common shares. Credit Note : journal entry has been entered Record entry Clear entry View general journal