Sunland Inc. sells 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.$ Sunland Inc. receives a commission of $6\%$ of the total price. Sunland 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 Sunland 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 $0$ for the amounts. List all debit entries

before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit