Required information hellowing information applies to the questions displayed below) Grand Clock Inc. (GC) is a retailer of wall, mantle, and grandfather clocks Assume Gisells a grandfather clock for $14,000 cash plus 4 percent sales tax. The clock had originally cost GCI $10.000. Show the accounting equation effects and prepare the journal entries related to this transaction. Assume GC uses a perpetual inventory system 1. Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign) Asants Lates stockholders' Equity 110.000