Required information

Use the following information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On July $15,$ Piper Company sold $$18,000$ of merchandise $($costing $$9,000)$ for cash. The sales tax rate is $4\%.$ On

August $1,$ Piper sent the sales tax collected from the sale to the government.

On November $3,$ the Milwaukee Bucks sold a six$-$game pack of advance tickets for $$540$ 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 $9-3($Algo$)$ Financial statement impact of current liability transactions LO C$2$

Analyze each separate transaction by showing its effects on the accounting equation$-$specifically, identify the accounts and amounts

$($including $+$ or $-)$ for each transaction.

Note: Enter all amounts as positive values.