Required information [The following information applies to the questions displayed below] Grandpa Clocks, Incorporated (GCl), is a retailer of wall, mantle, and grandfather elocks. Assume GCl sells a grandfather clock for $10,000 cash plus 4 percent sales tax. The clock had originally cost GCl$6,000. Assume GCl uses a perpetual inventory system 1. Indicate the effects of the amounts for the obove transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.) Journal entry worksheet Record the sales revenue of $10,000 plus 4 percent sales tax. Note: Enter debits before credits. Journal entry worksheet Record the cost of goods sold of $6,000. Note: Enter debits before credits