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On July 15, Piper Company sold $15,000 of merchandise (costing $7,500) for cash. The sales tax rate is 5%. On August 1, Piper sent the
On July 15, Piper Company sold $15,000 of merchandise (costing $7,500) for cash. The sales tax rate is 5%. On August 1, Piper sent the sales tax collected from the sale to the government.%0D%0AOn November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $450 cash. On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales).
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