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Sandhill Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Sunland Company...

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Accounting

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
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