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 $$75000.$ Sheridan Inc. receives a commission of $6\%$ of the total price. Sheridan Inc. therefore remits $$70500$to ShipAway. Prepare the journal entry to record $(1)$ the receipt of payment of $$75000$ 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