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Question 3 of 5 < - 1 9 View Policies Current Attempt in Progress Ivanhoe Inc. sells tickets for a Caribbean cruise on ShipAway Cruise

Question 3 of 5
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Current Attempt in Progress
Ivanhoe Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Crane Company employees. The total cruise package price to Crane Company employees is $61,000. Ivanhoe Inc. receives a commission of 6% of the total price. Ivanhoe Inc. therefore remits $57,340 to ShipAway.
Prepare the journal entry to record (1) the receipt of payment of $61,000 from employees for the cruise packages and (2) the remittance and revenue recognized by Ivanhoe Inc. 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. List all debit entries
before credit entries

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