Question 24 12 pts The shareholders' equity section of the balance sheet of Liberty Corporation included the following accounts at December 31, 2019: Shareholders' Equity ($ in millions) Common stock, 240 million shares at $1 par $240 Paid-in capital-excess of par 1,680 Paid-in capital-retired stock 5 1,100 Retained earnings During 2020, Liberty Corporation entered the following capital stock transactions: 1. On February 5, 2020, Liberty Corporation purchased and directly retired 5 million shares at $8 per share. 2. On July 9, 2020, the corporation issued 5 million new shares at $10 per share in exchange for a building. 3. On November 14, 2020, the corporation purchased 2 million shares for treasury shares at $11 per share. Required: Prepare journal entries to record the transactions on the above dates. Note: You may create a table as follows to organize your journal entries. Date 1 Cash Sales Revenue Edit Format Table 12pt Paragraph Account titles BIUA 2 Debit Credit 10,000 10,000