Sunland's Agency sells an insurance policy offered by Bramble Insurance Company for a commission of $$300.$ In addition, Sunland will receive a further commission of $$54$ each year for as long as the policyholder does not cancel the policy. After selling the policy, Sunland does not have any remaining performance obligations. Based on its significant experience with these types of policies, Sunland estimates that policyholders on average renew the policy for $5\mathrm{.}5$ years. It has no evidence to suggest that previous policyholder behaviour will change.Prepare the journal entry, assuming that the $165$ policies are sold in January $2023$ and that Sunland receives cash for commissions from Bramble. $($Credit account titles are automatically indented when the 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.$)$

Date

January, $2023$

Account Titles and Explanation

Debit

Credit

The other one was not correct. It is not commission revenue.