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On January 10, 2022, Frawley Design Services purchased treasury stock at a cost of $30...

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Accounting

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On January 10, 2022, Frawley Design Services purchased treasury stock at a cost of $30 million. On July 3, 2022, Frawley resold some of the treasury stock for $8 million; this resold treasury stock had cost the company $5 million. Record the purchase and resale of Frawley's treasury stock. Overall, how much did stockholders' equity increase or decrease as a result of the two treasury-stock transactions? Record the purchase and resale of Frawley's treasury stock. (Record debits first, then credits. Exclude explanations from any joumal entries. Enter amounts in millions as provided to you in the problem statement.) First, record the purchase of the treasury stock

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