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Required information [ The following information applies to the questions displayed below. ] On July 1 5 , Piper Company sold $ 1 0 ,

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Required information
[The following information applies to the questions displayed below.]
On July 15, Piper Company sold $10,000 of merchandise (costing $5,000) 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 $300 cash. On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales).
lyze each separate transaction by showing its effects on the accounting equation-specifically, identify the accounts and amounts uding + or -) for each transaction.
e: Enter all amounts as positive values.
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