Crossroads Mall had 100,000 outstanding shares of common stock. On June 16, 2018, Crossroads repurchased 20,000 shares of its own stock at $30 per share. On July 23, 2018, Crossroads resold 10,000 shares at $28 per share. What net effect did the repurchase and the resell of common stock have on the accounting equation?
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Home » Business » Crossroads Mall had 100,000 outstanding shares of common stock. On June 16, 2018, Crossroads repurchased 20,000 shares of its own stock at $30 per share. On July 23, 2018, Crossroads resold 10,000 shares at $28 per share.