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[The following information applies to the questions displayed below.] 1. On July 15, Piper Company...

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[The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $10,000 of merchandise (costing $5,000) for cash. The sales tax rate is 4%, On August 1. Fiper sent the sales tax collected from the sale to the government. 2. On November 3, the Milwoukee Bucks sold a sixcgame pack of advance tickets for 5300 cash. On November 20 , the Bucks played the frist game of the six-game pock (this represented one-sich of the advance ticket sales). Exercise 11-2 (Static) Recording known current liabilities LO C2 1. Record entries for the July 15 and August 1 transactions. 2. Peccord the entries for the November 3 and Nowember 20 transactions

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