Magical Memories sells Florida theme park vacation packages to various customers throughout the United States. Magical Memories receives a $5\%$ commission based on the total price of the vacation package. A customer purchased the Deluxe Package valued at $$15,000.$

Required:

Prepare Magical Memories$$s journal entries to record sale of the vacation package, the receipt of cash from the customer, and the remittance to the theme park.

Prepare Magical Memories$$s journal entries to record sale of the vacation package on account on January $1,$ the receipt of cash from the customer on January $15,$ and the remittance to the theme park on January $31.$