Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] 1. On July 15 , Piper Company sold $12,000 of merchandise (costing $6,000 ) 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 $360 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 (Algo) 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