Analyze each separate transaction from Exercise 9-2 by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or –) for each transaction.

Data from Exercise 9-2

1. On July 15, Piper Co. sold $10,000 of merchandise (costing $5,000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government.
Record entries for the July 15 and August 1 transactions.
2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $300 cash. On November 20, the Bucks played the first game of the six-game pack (this represented one sixth of the advance ticket sales). Record the entries for the November 3 and November 20 transactions.