In-class work S11-2 Recording sales Learning objective 1 tax On July 5, Feather Company recorded sales of merchandise inventory on account, $20,000. The sales were subject to sales tax of 9%. On August 15, Feather Company paid $1,200 of sales tax to the state. Requirements Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state. S11-3 Recording unearned revenue Learning objective 1 On June 1, Guitar Magazine collected cash of $51,000 on future annual subscriptions starting on July l. Requirements Journalize the transaction to record the collection of cash on June 1 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar. E11-15 Recording note payable transactions Learning objective 1 Consider the following note payable transactions of Concert Video Productions 2015 May 1 Purchased equipment costing S12.000 by issuing a oneyeau 3% note payable. Dec. 31 Accrued interest on the note payable. 2016 Paid the note payable plus interest at maturity