Required information [The following information applies to the questions displayed below.) 1. On July 15, Piper Company sold $28,000 of merchandise (costing $14,000) for cash. The sales tax rate is 5%. On August 1, Piper sent the sales tax collected from the sale to the governmenty 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance Ickets 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) 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.) Return to question malyze each separate transaction by showing its effects on the accounting equation-specifically. Identify the accounts and amounts ncluding or -) for each transaction (Enter all amounts as positive values.) Answer is not complete. Liabilities Date July 15 July 15 August Cash Merchandise inventory Cash Assets (*) increase - decrease - decrease () increase 29.400 14,000 1,400 decrease 1.400 Cash 5 840 $ () increase 840 Sales taxes payablo Uncanned licked rovno Uneamed et rovno November 3 November 20 decrease 140 Return to question ng equation--specifically, identify the accounts and amounts ies.) Answer is not complete. Liabilities Satos Cont of goods sold Equity increase decrease 28.000 14.000 docro 1.400 Sales con payable Un med ticket re Uncomed ticket rever 840 - 1 decrease 140 Ticket revenge (+) > S 140