1. On July 15, Piper Company sold $12,000 of merchandise (costing $6,000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $360 cash. On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales).

Analyze each separate transaction by showing its effects on the accounting equationspecifically, identify the accounts and amounts (including + or ) for each transaction.