Required information [The following information applies to the questions displayed below.] 1. 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. 2. 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). 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 < 1 2 3 Date July 15 Note: Enter debits before credits. 4 Record the entry for cash sales and its sales taxes. 5 General Journal Debit Credit >
Required information [The following information applies to the questions displayed below.] 1. 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. 2. 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). 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 < 1 2 3 Date July 15 Note: Enter debits before credits. 4 Record the entry for cash sales and its sales taxes. 5 General Journal Debit Credit >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required information
[The following information applies to the questions displayed below.]
1. 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.
2. 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).
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
<
1
2
Date
July 15
3
Note: Enter debits before credits.
Record the entry for cash sales and its sales taxes.
Record entry
4
5
General Journal
Clear entry
→
4
Debit
C
Credit
View general journal
D](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdfbc4ba1-e0ed-49af-a997-602aa39b0c1c%2F85cf46c0-b406-469a-973a-0ed0146e2950%2F8a98cdt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
1. 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.
2. 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).
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
<
1
2
Date
July 15
3
Note: Enter debits before credits.
Record the entry for cash sales and its sales taxes.
Record entry
4
5
General Journal
Clear entry
→
4
Debit
C
Credit
View general journal
D
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