Carla Vista's Agency sells an insurance policy offered by Vaughn Insurance Company for a commission of $90. In addition, Carla Vista will receive a further commission of $8 each year for as long as the policyholder does not cancel the policy. After selling the policy, Carla Vista does not have any remaining performance obligations. Based on its significant experience with these types of policies, Carla Vista estimates that policyholders on average renew the policy for 5.5 years. It has no evidence to suggest that previous policyholder behaviour will change. Prepare the journal entry, assuming that the 90 policies are sold in January 2023 and that Carla Vista receives cash for commissions from Vaughn