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Required information [The following information applies to the questions displayed below.] 1. On July 15 , Piper Company sold ( $ 30,000 ) of merchandise
Required information [The following information applies to the questions displayed below.] 1. On July 15 , Piper Company sold \\( \\$ 30,000 \\) of merchandise (costing \\( \\$ 15,000 \\) ) for cash. The sales tax rate is \4. 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 \\( \\$ 900 \\) cash. On November 20 , the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales). 1. Record entries for the July 15 and August 1 transactions. 2. Record the entries for the November 3 and November 20 transactions. Journal entry worksheet Record the entry for cash sales and its sales taxes. Note: Enter debits before credits. Analyze each separate transaction by showing its effects on the accounting equation-specifically, identify the accounts and amounts including + or - ) for each transaction. Note: Enter all amounts as positive values. Journal entry worksheet Record the cost of merchandise. Note: Enter debits before credits. Journal entry worksheet
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