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 $15,000 cash plus 5 percent sales tax. The clock had originally cost GCI $12,000. Assume GC 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 Help Required Information [The following information applies to the questions displayed below) Grandpa Clocks, Incorporated (GC), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $16,000 cash plus 5 percent sales tax. The clock had originally cost GCI $12,000. 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