1. On July 15. Piper Co. sold $22,000 of merchandise (costing $11,000) for cash. The sales tax rate is 4%. On August 1, Pipersent the sales tax collected from the sale to the government. Record entries for the July 15 and August 1 transactions.2 On November 3, the Milwaukee Bucks sold a six game pack of advance tickets for $660 cash. On November 20, theBucks played the first game of the slIx game pack (this represented one-sIxth of the advance ticket sales). Record theentries for the November 3 and November 20 transactions.Vlew transaction letJournal entry worksheet1234 5>Record the entry for cash sales and its sales taxes.Note: Enter debits befre credits.DateGeneral JournalDebitCreditJul 15Record entryClear entryVlew general journal Sylvestor Systems borrows $55,000 cash on May 15 by signing a 150-day. 7%, $55,000 note.1. On what date does this note mature?2-a. Prepare the entry to record Issuance of the note.2-b. First, complete the table below to calculate the Interest expense at maturity. Use those calculated values to prepare yourentry to record payment of the note at maturity.Complete this question by entering your answers in the tabs below.Required 28Required 28GeneralRequired 1Required 2AInterest atMaturityJournalOn what date does this note mature?On what date does this note mature?< Required 1Required 2A >

I am answering the first question as per bartleby guidelines. Please re-submit the remaining…

1. On July 15. Piper Co. sold $22,000 of merchandise (costing $1000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. Record entrles for the July 15 and August 1 transactions. 2. On November 3, the Milwaukee Bucks sold a six game pack of advance tickets for $660 cash. On November 20, the Bucks played the first game of the six game pack (this represented one-sixth of the advance ticket sales). Record the entries for the November 3 and November 20 transactions.

1. On July 15. Piper Co. sold $22,000 of merchandise (costing $1000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. Record entrles for the July 15 and August 1 transactions. 2. On November 3, the Milwaukee Bucks sold a six game pack of advance tickets for $660 cash. On November 20, the Bucks played the first game of the six game pack (this represented one-sixth of the advance ticket sales). Record the entries for the November 3 and November 20 transactions.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter12: Special Journals

Section: Chapter Questions

Problem 1CP: Screpcap Co. had the following transactions during the first week of June: June 1Purchased...

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Screpcap Co. had the following transactions during the first week of June: June 1Purchased merchandise on account from Acme Supply, 2,700, plus freight charges of 160. 1Issued Check No. 219 to Denver Wholesalers for merchandise purchased on account, 720, less 1% discount. 1Sold merchandise on account to F. Colby, 246, plus 5% state sales tax plus 2% city sales tax. June 2Received cash on account from N. Dunlop, 315. 2Made cash sale of 413 plus 5% state sales tax plus 2% city sales tax. 2Purchased merchandise on account from Permon Co., 3,200, plus freight charges of 190. 3Sold merchandise on account to F. Ayres, 211, plus 5% state sales tax plus 2% city sales tax. 3Issued Check No. 220 to Ellis Co. for merchandise purchased on account, 847, less 1% discount. 3Received cash on account from F. Graves, 463. 4Issued Check No. 221 to Penguin Warehouse for merchandise purchased on account, 950, less 1% discount. 4Sold merchandise on account to K. Stanga, 318, plus 5% state sales tax plus 2% city sales tax. 4Purchased merchandise on account from Mason Milling, 1,630, plus freight charges of 90. 4Received cash on account from O. Alston, 381. 5Made cash sale of 319 plus 5% state sales tax plus 2% city sales tax. 5Issued Check No. 222 to Acme Supply for merchandise purchased on account, 980, less 1% discount. Required 1. Record the transactions in a general journal. 2. Assuming these are the types of transactions Screpcap Co. experiences on a regular basis, design the following special journals for Screpcap: (a) Sales journal (b) Cash receipts journal (c) Purchases journal (d) Cash payments journal
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