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Grandpa Clocks, Incorporated (GCl), is a retailer of wall, mantle, and grandfather clocks. Assume GCl sells a grandfather clock for $17,000 cash plus 4 percent

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Grandpa Clocks, Incorporated (GCl), is a retailer of wall, mantle, and grandfather clocks. Assume GCl sells a grandfather clock for $17,000 cash plus 4 percent sales tax. The clock had originally cost GCl$13,000. Assume GCl uses a perpetual inventory system. Prepare the journal entries related for the above transactions. (If no entry is equired for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the sales revenue of $17,000 plus 4 percent sales tax. Note: Enter debits before credits

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