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please answer each box clearly Required information The following information applies to the questions displayed below.) 1. On July 15, Piper Co. sold $17,000 of

please answer each box clearly
image text in transcribed
image text in transcribed
Required information The following information applies to the questions displayed below.) 1. On July 15, Piper Co. sold $17,000 of merchandise (costing $8,500) 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 $510 cash On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales), nalyze each separate transaction by showing its effects on the accounting equation-specifically, identify the accounts and amounts ncluding + or -) for each transaction (Enter all amounts as positive values.) Assets Liabilities Date July 15 Cash July 15 Cost of goods sold August 1 Sales taxes payable November 3 Cash November 20 neamed ticket revenue + sunting equation-specifically, identify the accounts and amounts values.) Liabilities Equity

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