Required informotion 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 $14,000 of merchandise (costing $7,000 ) for cash. The sales tax rate is 48 . 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 $420 cash. On November 20 , the Bucks played the firstgame 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 C2 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.)