Novak Corporation shipped $18,500 of merchandise on consignment to Gooch Company. Novak paid freight costs of $2,000. Gooch Company paid $550 for local advertising, which is reimbursable from Novak. By year-end, 57% of the merchandise had been sold for $21,800. Gooch notified Novak, retained a 9% commission, and remitted the cash due to Novak. Prepare Novak's journal entry when the cash is received. (Round answers to 0 decimal places, e.g. 1,525. 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 for the amounts.) Account Titles and Explanation Debit Credit (To record the cash remitted to Novak.) (To record the cost of inventory sold on consignment.)