Heines Clocks is a retailer of wall, mantle, and grandfather clocks and is located in the Empire Mall in Sioux Falls, South Dakota. Assume that a grandfather clock was sold for $20,000 cash plus 4 percent sales tax. The clock had original cost Heines $16,000. Assume Heines uses a perpetual inventory system. Indicate the effects of the amounts for the above transactions. (Enter any decreases to account balances with a minus sign.) Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/event select "No Journal Entry Required" in the first account field.)