uise on ShipAway package price to Carla Vista Company employees is $79,000. Wildhorse Inc. receives a commission of 6% of the total price. Wildhorse Inc. therefore remits $74,260 to ShipAway. Prepare the journal entry to record (1) the receipt of payment of $79,000 from employees for the cruise packages and (2) the remittance and revenue recognized by Wildhorse 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 1. 2. Debit ||||| Credit
uise on ShipAway package price to Carla Vista Company employees is $79,000. Wildhorse Inc. receives a commission of 6% of the total price. Wildhorse Inc. therefore remits $74,260 to ShipAway. Prepare the journal entry to record (1) the receipt of payment of $79,000 from employees for the cruise packages and (2) the remittance and revenue recognized by Wildhorse 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 1. 2. Debit ||||| Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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