$1$

Required information

Use the following information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions displayed below$]$

On July $15,$ Piper Company sold $$23,000$ of merchandise $($costing $$11,500)$ for cash. The sales tax rate is $5\%$ On August $1,$ Piper sent the sales tax collected from the sale to the government.

$2$ On November $3,$ the Milwoukeo Bucks sold a six$-$game pack of advance tickets for $$690$ cash. On November $20,$ the Bucks played the first game of the six$-$game pack $($this represented one$-$sixth of the advance ticket sales$).$

Exerciso $9-3($Algo$)$ Financial statement impact of current libbility transactions LOC$2$

Analyze each separate transaction by showing its effects on the accounting equation$-$specifically, identlfy the accounts and amounts $($ncluding $+$ or $)$ for each transaction.

Note: Enter ell omounts es positive values.