Exerclse $18-10($Statlc$)$ Retirement of shares $[$LO$18-5]$

Borner Communications' articles of Incorporation authorized the Issuance of $130$ 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:

Required:

Assuming that Borner Communications retires shares it reacquires $($restores thelr status to that of authorized but unissued shares$),$ record the appropriate Journal entry for each of the following transactions:

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers In millions $($i$.$e$.,10,000,000$ should be entered as $10).$

$1.$ On January $7,2024,$ Borner reacquired $2$ million shares at $\backslash (\backslash$$ $5\backslash )$ per share.

$2$ On August $23,2024,$ Bomer reacquired $4$ million shares at $\backslash (\backslash$$ $3\mathrm{.}50\backslash )$ per share.

$3.$ On July $25,2025,$ Borner sold $3$ million common shares at $\backslash (\backslash$$ $6\backslash )$ per share.

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