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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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