Required information Journal entry worksheet

Record the entry for cash sales and its sales taxes.

Note: Enter debits before credits. Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

Record the cost of merchandise.

Note: Enter debits before credits. Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

Record the sending of sales taxes to the government.

Note: Enter debits before credits. Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

Record the sale of advance tickets.

Note: Enter debits before credits.Journal entry worksheet

Record the revenue earned from sale of tickets.

Note: Enter debits before credits.

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$[$The following information applies to the questions displayed below.$]$

On July $15,$ Piper Company sold $$26,000$ of merchandise $($costing $$13,000)$ for cash. The sales tax rate is $4\%.$ On August $1,$ Piper sent the sales tax collected from the sale to the government.

On November $3,$ the Milwaukee Bucks sold a six$-$game pack of advance tickets for $$780$ 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 entries for the July $15$ and August $1$ transactions.

Record the entries for the November $3$ and November $20$ transactions.