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Hel 1. On July 15. Piper Co. sold $23,000 ot merchandise (costing $11.500) for cash. The sales tax rate s 5%. On August 1. Pipet
Hel 1. On July 15. Piper Co. sold $23,000 ot merchandise (costing $11.500) for cash. The sales tax rate s 5%. On August 1. Pipet sent the sales tax collected from the sale to the government. Record entities for the July 15 and August 1 transactions. 2. On November 3, the Milwaukee Bucks sold a sbgame pack of advance tickets for $690 cash On November 20 the Backsplayed 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 View transaction ist Journal entry worksheet 2 4 5 Record the entry for cash sales and its sales taxes To the des before Debit Crede Geral Journal Date JU15 View transaction list X X 1 Record the entry for cash sales and its sales taxes. 2 Record the cost of merchandise. 3 Record the sending of sales taxes to the government. 4 Record the sales in advance of games. 5 Record the revenue earned from sale of tickets
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