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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
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 Step by Step Solution
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