183 iPad 1609 72 edugenwileycom iCampus l WileyPLUS CALCULAT

iPad 16:09 72% edugen.wiley.com iCampus l WileyPLUS CALCULATOR PRINTER VERSION ·BACK NEXT CES Brief Exercise 18-3 Travel Inc. sells tickets for a Caribbean cruise to Carmel Company employees. The total cruise package costs Carmel $57,500 from ShipAway cruise liner. Travel Inc. receives a commission of 8% of the total price. Travel Inc. therefore remits $52,900 to ShipAway. Prepare the entry to record the revenue recognized by Travel Inc. on this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually) planation LINK TO T Question Attemptst O of 3 used SAVE FOR LATE SUBAIT ANSWER udy

Solution

Account titles and explanation Debit Credit Cash 4600 Sales revenue 4600