Dreighton Engineering Group receives royalties on a technical manual written by two of its engineers and sold to William B. Irving Publishing, Inc Royalties are 10% of net sales, receivable on October 1 for sales in January through June and on April 1 for sales in July through December of the prior year Sales of the manual began in July 2020, and Dreighton accrued royalty revenue of $39,000 at December 31, 2020, as follows: Receivable-royalty revenue Royalty revenue 39,000 39,000 Dreighton received royalties of $46,000 on April 1, 2021, and $50,000 on October 1, 2021. Irving indicated to Dreighton on December 31 that book sales subject to royalties for the second half of 2021 are expected to be $600,000. Required: 1. & 2. Prepare any necessary journal entry related to royalty revenue for 2021 and record adjustment, if any, made to retained earnings in the 2020 financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 = 4 Record collection of royalties. Note: Enter debits before credits. Date General Journal Debit Credit April 01, 2021 Dreighton received royalties of $46000 on April 1, 2021, and $50,000 on October 1, 2021. Irving indicated to Dreighton 31 that book sales subject to royalties for the second half of 2021 are expected to be $600,000. Required: 1. & 2. Prepare any necessary journal entry related to royalty revenue for 2021 and record adjustment, if any, made to ret earnings in the 2020 financial statements. (If no entry is required for a transaction/event, select "No journal entry requ first account field.) View transaction list Journal entry worksheet Record collection of royalties. ES Note: Enter debits before credits. Date General Journal Debit Credit April 01, 2021 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 Record collection of royalties. ces Note: Enter debits before credits. Date General Journal Debit Credit October 01. 2021 Record entry Clear entry View general journal Journal entry worksheet