Required information [The following information applies to the questions displayed below.) 1. On July 15, Piper Co. 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 2. 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). Analyze each separate transaction by showing its effects on the accounting equation-specifically, Identify the accounts and amounts (including + or -) for each transaction. (Enter all amounts as positive values.) Llabilities () increase Sales taxen payable 4001 - 10,400 5,000 0 . Date July 15 Cash July 15 Merchandise inventory Aug 1 Cash Nov. 3 Cash Nov. 20 Assets 1) Increase (-) decrease R- decrease (*) increase 400 Sales taxes payable (-) decrease () increase (-) decrease 4001 - 3001 - 300 + 0 me accounting equation-specifically, identify the accounts and amounts ositive values.) Equity Sales taxes payable Liabilities (+) Increase + + 10,400 5,000 400 300 0 400 0 400 300 Sales taxes payable + (-) decrease (+) increase (-) decrease +