Brief Exercise 18A-16 Travel Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Carmel Company employees. The total cruise package price to Carmel Company employees is $73,000. Travel Inc. receives a commission of 6% of the total price. Travel Inc. therefore remits $68,620 to ShipAway. Prepare the journal entry to record the remittance and revenue recognized by Travel Inc. on this transaction. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Account Titles and Explanation

Debit Credit