! Required information [The following information applies to the questions displayed below.] Grandpa Clocks, Incorporated (GCI), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $19,000 cash plus 5 percent sales tax. The clock had originally cost GCI $15,000. Assume GCI uses a perpetual inventory system. 2. 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.) View transaction list Journal entry worksheet Record the sales revenue of $19,000 plus 5 percent sales tax. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 19.000 Sales Revenue Sales Tax Payable 950 Record entry Clear entry View general journal