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Question 6 of 7 View Policies 18 Assignment < > -/143 Current Attempt in Progress Travel Inc. sell tickets for a Caribbean cruise on
Question 6 of 7 View Policies 18 Assignment < > -/143 Current Attempt in Progress Travel Inc. sell tickets for a Caribbean cruise on ShipAway Cruise Lines to Pharoah Company employees. The total cruise package price to Pharoah Company employees is $76,000. Travel tec. receives a commission of 6% of the total price. Travel Inc. therefore remits $71,440 to ShipAway Prepare the journal entry to record (1) the receipt of payment of $76.000 from employees for the cruise packages and (2) the remittance and revenue recognized by Travel Inc. on this transaction (C 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 amount Sr. No. Account Titles and Explanation 1. eTextbook and Media Type here to search Debit Credit
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