Required information [The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $20,000 of merchandise (costing $10,000 ) 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 $600 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 amoun including + or - ) for each transaction. Note: Enter all amounts as positive values. 000) for cash. The sales tax rate is 5%. On ment. ce tickets for $600 cash. On November 20, one-sixth of the advance ticket sales). on-specifically, identify the accounts and amounts