ttps// r 10 Exercise/Problems6 Help Seved The following information applies to the questions displayed below. Grandpa Clocks, Inc. (GC), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $10.000 cash plus 4 percent sales tax. The clock had originally cost GCI $6,000. Show the accounting equatin effects and prepare the journal entries related to this transaction. Assume GCI uses a perpetual inventory system. of 2 2 Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/event, select "No Journel Entry Required" in the first account field.) View transaction ist Journal entry worksheet Record the sales revenue of $10,000 plus 4 percent sales tax Note: Enter debits before credits Chapter 10E The following information applies to the questions displayed below. Grandpa Clocks, Inc. (GCl), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $10,000 cash plus 4 percent sales tax. The clock had originally cost GCI $6,000. Show the accounting equation effects and prepare the journal entries related to this transaction Assume GCl uses a perpetual inventory system. Pert 2 of 2 2 Prepare the journal entries related for the above transactions (If no entry is required for a transection/event, select "No Journal Entry Required" in the first account field.) points View transaction list Book Journal entry worksheet Record the cost of goods sold of $6,000 ote: Enter debits before credits