Listed below are a few transactions and events of Piper Company. Piper Company records an adjusting entry for dollar 200,000 of previously unrecorded cash sales (costing dollar 100,000) and its sales taxes at a rate of 7 percentage. The company earned dollar 40,000 of dollar 100,000 previously received in advance for services. Prepare any necessary adjusting entries at December 31, 2013, for Piper Company's year-end financial statements for each of the above separate transactions and events. Piper Company uses a perpetual inventory system