Orange Inc. has 100 million shares of $1 par common stock authorized. The transactions below caused changes in Orange Inc.'s outstanding shares.

Jan. 4, 2018	Re-purchased and retired 2 million shares at $2 per share
June 25, 2018	Re-purchased and retired 1 million shares at $8 per share

Before the transactions, Orange Inc.'s shareholders' equity included the following:

Common stock, 80 million shares at $1 par	$80,000,000
Paid-in capital - excess of par	$160,000,000
Retained Earnings	$120,000,000

Required-

Record the entries for the above transactions.

Account	Debit	Credit