At December 31, 2020, the balance sheet of Meca International included the following shareholders’ equity accounts:

Shareholders’ Equity .......................................($ in millions)
Common stock, 60 million shares at $1 par .......$ 60
Paid-in capital—excess of par ...............................300
Retained earnings ...................................................410

Required:
Assuming that Meca International views its share buybacks as treasury stock, record the appropriate journal entry for each of the following transactions:
1. On February 12, 2021, Meca reacquired 1 million common shares at $13 per share.
2. On June 9, 2022, Meca reacquired 2 million common shares at $10 per share.
3. On May 25, 2023, Meca sold 2 million treasury shares at $15 per share. Determine cost as the weightedaverage cost of treasury shares.
4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method.