• Record the entry for cash sales and its sales taxes.
• Record the cost of merchandise.
• Record the sending of sales taxes to the government.
• Record the sales in advance of games.
• Record the revenue earned from sale of tickets.

1. On July 15, Piper Co. sold $16,000 of merchandise (costing $8,000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. Record entries for the July 15 and August 1 transactions. 2. On November 3, the Milwaukee Bucks sold a six game pack of advance tickets for $480 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 the entries for the November 3 and November 20 transactions