Required information [The following information applies to the questions displayed below) 1. On July 15, Piper Company sold $28,000 of merchandise (costing S14,000) 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 $840 cash On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales) Ret 1. Record entries for the July 15 and August 1 transactions, 2. Record the entries for the November 3 and November 20 transactions Answer is not complete. General Journal No Date July 15 Credit 1 Debit 29,400 Cash Sales 28,000 1,400 2 July 15 Cost of goods sold Merchandise inventory 14,000 14,000 3 August 01 1.400 Sales taxes payable Cash 1,400 4 November 03 Cash S B40 Merchandise inventory 14,000 3 August 01 Sales taxes payable Cash 1,400 > 1,400 4 November 03 840 Cash Unoamed ticket revenue 840 5 November 20 Unearned ticket revenue Ticket revenue 140 140 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.) Answer is not complete Liabilities Date July 15 July 15 August 1 November 3 November 20 Cash Merchandise inventory Cash Assets (+) increase (-) decrease (-) decrease 29.400 14.000 1.400 1.400 > Cash decrease () increase () increase Sales taxes payable Unowned ticket revenue Unicorned ticket revenue 840 840 - decrease 140 Answer is not complete. Liabilities Sales Cost of goods sold Equity (+) increase (-) decrease 28,000 14,000 (-) decrease 1,400 Sales taxes payable Unearned ticket revenue Unearned ticket revenue (+) increase 8.40 + (-) decrease 140 Ticket revenue (+) increase 140