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On July 15, Piper Company sold $27,000 of merchandise (costing $13,500) for cash. The sales tax rate is 4%. On August 1, Piper sent the
On July 15, Piper Company sold $27,000 of merchandise (costing $13,500) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $810 cash.
On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales).
- Record entries for the July 15 and August 1
2. Record entries for the entries for the November 3 and November 20 transactions
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