Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] 1. On July 15, Piper Company 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). Exercise 9-2 (Static) Recording known current liabilities LO C2 1. Record entries for the July 15 and August 1 transactions. 2. Record the entries for the November 3 and November 20 transactions. View transaction list Journal entry worksheet Record the entry for cash sales and its sales taxes. Note: Enter debits before credits. General Journal Debit Credit 10,400 Date July 15 Cash Sales taxes payable 400 Record entry Clear entry View general journal