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 se grandfather clock for $10,000 cash plus 4 percent sales tax. The clock had originally cost GCI $6,000. GCI uses a perpetual inventory system. 2. Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/e Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet

Required information [The following information applies to the questions displayed below.] Grandpa Clocks, Incorporated ( GCl ), is a retailer of wall, mantle, and grandfather clocks. Assume GCls grandfather clock for $10,000 cash plus 4 percent sales tax. The clock had originally cost GCl$6,000. GCl uses a perpetual inventory system. 2. Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/e Journal Entry Required" in the first account field.)