Cullumber Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Bonita Company employees. The total cruise package price to Bonita employees is $62,000. Cullumber receives a commission of 6% of the total price. Cullumber therefore remits $58,280 to ShipAway. Prepare the journal entry to record the remittance and revenue recognized by Cullumber on this transaction. (Credit account titles are automatically indented when the 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. List all debit entries before credit entries.) Account Titles and Explanation Cash Commission Revenue Sales Revenue Debit 62000 Credit 3720 58280

Cullumber Inc sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Bonita Company employees. The total cruise package price to Bonita emplovees is $62,000. Cullumber receives a commission of 6% of the total price. Cullumber therefore remits $58,280 to ShipAway. Prepare the journal entry to record the remittance and revenue recognized by Cullumber on this transaction. (Credit occount titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. (Lst all debit entrles before credit entries.)