Listed below are a few transactions and events of Piper Company. 1. Piper Company records a year-end entry for $10,000 of previously unrecorded cash sales (costingg $5,000) and its sales taxes at a rate of 4%. 2. The company earned $50,000 of $125,000 previously received in advance and originally recorded as unearned services revenue. Prepare any necessary adjusting entries at December 31 for Piper Company's year-end financial statements for each of the above separate transactions and events. (Piper has the policy of recording cash received in advance in balance sheet accounts.) View transaction list Journal entry worksheet Record the entry for cash sales and its sales taxes Note: Enter debits before credits. General Journal Debit Credit 01(a) Journal entry worksheet Record cost of sales. Note: Enter debits before credits. Transaction General Journal Debit Credit 01(b) Record entry Clear entry View general journal Journal entry worksheet The company earned $50,000 of $125,000 previously received in advance for services Note: Enter debits before credits. Transaction General Journal Debit Credit 02 Record entry Clear entry View general journal