On July $15.$ Piper Company sold $$28,000$ of merchandise $($costing $$14,000)$ 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 Milwaukee Bucks sold a six$-$game pack of advance tickets for $$840$ cash. On November $20.$ the Bucks played the first game of the six$-$game pack $($this represented one$-$sixth of the advance ticket sales$).$

Exercise $9\mathrm{.}2($Algo$)$ Recordlng known current llabilitles LO C$2$

Record entrles for the July $15$ and August $1$ transactions.

Record the entrles for the November $3$ and November $20$ transactions.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

Record the cost of merchandise.

Nete: Giter debits betene crees as$.$

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$July $15,,,],[,,,],[,,,],[,,,],[,,,]]$