Sheridan Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Oriole Company employees. The total cruise package price to Oriole Company employees is $64,000. Sheridan Inc. receives a commission of 6% of the total price. Sheridan Inc. therefore remits $60,160 to ShipAway. Prepare the journal entry to record (1) the receipt of payment of $64,000 from employees for the cruise packages and (2) the remittance and revenue recognized by Sheridan 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.) No. Account Titles and Explanation 1. 2. Debit Credit

Sheridan Inc: sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Oriole Company employees. The total cruise package price to Oriole Company employees is $64,000. Sheridan Inc, receives a commission of 6% of the total price. Sheridan Inc. therefore remits $60,160 to ShipAway. Prepare the journal entry to record (1) the receipt of payment of $64,000 from employees for the cruise packages and (2) the remittance and revenue recognized by Sheridan Inc. on this transaction. (Credit account titles are outomotically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the accouht titles and enter O for the amounts, List all debit entries before credit entries)