Crane Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Wildhorse Company employees. The total cruise package price to Wildhorse Company employees is $70,000. Crane Inc. receives a commission of 5% of the total price. Crane Inc. therefore remits $66,500 to ShipAway. Prepare the journal entry to record (1) the receipt of payment of $70,000 from employees for the cruise packages and (2) the remittance and revenue recognized by Crane Inc. on this transaction.