ner Communications' articles of incorporation authorized the issuance of 100 million common shares. The transactions described below effected changes in Bomer's outstanding shares. Prior to the transactions, Borner's shareholders' equity included the following Shareholders' Equity Common stock, 50 million shares at $1 par Paid-in capital-excess of par Retained earnings Required: (5 in millions) $50 200 100 32. 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: On January 7, 2021, Borner reacquired 1 million shares at $7 per A. B. C. D. share. All journal entries are in millions of dollars. Cash Common stock Common stock... Paid-in capital excess of para Cash... Common stock Paid-in capital excess of par. Retained earnings (difference). Cash.......... Common stock Paid-in capital excess of par. Retained earnings (difference).. Cash.. 1 1 2 1 4 2