Coronado Corporation shipped $$18,500$ of merchandise on consignment to Gooch Company. Coronado paid freight costs of $$2,000.$ Gooch Company paid $$550$ for local advertising, which is reimbursable from Coronado. By year$-$end, $57\%$ of the merchandise had been sold for $$21,800.$ Gooch notified Coronado, retained a $9\%$ commission, and remitted the cash due to Coronado.

Prepare Coronado's journal entry when the cash is received. $($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 titles and enter $O$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit