crect $2$ y $=$ent

$1$

Aequired information

$[$The followhig informabion applies to the questions displayed below$]$

Grandpa Clocks. intorpormed pGCA is a retaler of wall mantle, and grandfather clocks. Assume GCl sels a grandfuner ciock for $$10,000$cash phis $4$ percent soles tas. The clock had orignally cou $6C$$$6,000.$ Assume $0$ Cl uses a perpetual inventory stiteem.

Aequired:

L$.$ Indicate the effects of the amouns for the above tyansactioss. II a transection affects a temperary accoust, indude the accoust name unser "Temporary Accounts" and the financial etlect under $"$NL$.$ Do not enter an amount undee "Snockhelders' Equity" for these transactons; their impact on stockholders' equity will occur later when the semporary accourts ase closed at year$-$end. Do nof enfer No Effect $ND)$ or zero for any cells withost an effect for each vansaction desple what may be shown in textbook demonatration cases as these celis should be lett blank.

Note! Enter any decreases to Assets, Liabilities, Snockhelders' Equity, or Net Income with a minus sigh.

$\backslash$table$[[$Ausets$,-,$Labilitea, $,,$Stockhelders' Equity,$\backslash$table$[[$