Sandhill Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Sunland Company employees. The total cruise package price to Sunland Company employees is $$67,000.$ Sandhill Inc. receives a commission of $7\%$ of the total price. Sandhill Inc. therefore remits $$62,310$ to ShipAway.

Prepare the journal entry to record $(1)$ the receipt of payment of $$67,000$ from employees for the cruise packages and $(2)$ the remittance and revenue recognized by Sandhill Inc. on this transaction. $($Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. List all deblt entries before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$1.$

Cash

Accounts Payable

$2.$ Accounts Payable

Cash