Blossom Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Sandhill Company employees. The total cruise package price to Sandhill Company employees is $$80,000.$ Blossom Inc. receives a commission of $6\%$ of the total price. Blossom Inc. therefore remits $$75,200$ to ShipAway.

Prepare the journal entry to record $(1)$ the receipt of payment of $$80,000$ from employees for the cruise packages and $(2)$ the remittance and revenue recognized by Blossom Inc. on this transaction. $($Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account tiltes and enter O for the amounts. List all debit entries before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$1.$

Cash

Accounts Payable

$2.$ Accounts Payable

Commission Revenue

Cash

$80,000$