Nate Beggs signs a 1-year contract with Blossom Video. The terms of the contract are that Nate is required to pay a non-refundable initiation fee of 80. No annual membership fee is charged in the first year. After the first year, membership can be renewed by paying an annual membership fee of 5 per month. Blossom determines that its customers, on average, renew their annual membership three times after the first year before terminating their membership. What amount of revenue should Blossom recognize in its first year? Revenue in first year $ Current Attempt in Progress Travel SA sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Sunland Company employees. The total cruise package price to Sunland Company employees is 67,000. Travel SA receives a commission of 7% of the total price. Travel SA therefore remits 62,310 to ShipAway. Prepare the journal entry to record the remittance and revenue (sales revenue) recognized by Travel SA on this transaction. (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 Cash Debit Credit Accounts Payable