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.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 7MCQ

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On July 15, Piper Co. sold $10,000 of merchandise (costing $5,000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. Record entries for the July 15 and August 1 transactions. On November 3, the Milwaukee Bucks sold a six game pack of advance tickets for $300 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. Journal entry worksheet I: Record the entry for cash sales and its sales taxes. Note: Enter debits before credits. Date General Journal Debit Credit Jul 15 Journal entry worksheet II: Record the cost of merchandise. Note: Enter debits before credits. Date General Journal Debit Credit Jul 15…
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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
Required information [The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $17,000 of merchandise (costing $8,500) for cash. The sales tax rate is 5%. 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 $510 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.
Required Information [The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $19,000 of merchandise (costing $9,500) 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 $570 cash. On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales). Analyze each separate transaction by showing its effects on the accounting equation-specifically, Identify the accounts and amounts (Including + or -) for each transaction. Note: Enter all amounts as positive values. Date July 15 July 15 August 1 November 3 Assets Merchandise inventory (-) decrease 9.500 November 20 E E Liabilities 5 Prev of 18 Next > Equity K
On July 15, Piper Co. sold $10,000 of merchandise (costing $5,000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. Record entries for the July 15 and August 1 transactions.
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Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax. (1) Record the entry for the $6,000 sale and its sales tax. (2) Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.
Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). Dextra collects 7% sales tax. Record the entry for the $16,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. View transaction list Journal entry worksheet 1 2 3 Record the cash sales and 7% sales tax. Date September 30 Note: Enter debits before credits. General Journal Debit Credit >
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