Fanatics.com sells products of all of the major sports leagues as well as player jerseys. Fanatics pays a 9% royalty on the related sales. During fiscal year 2021, Fanatics sold $36,000 of licensed products; the inventory cost of these sales was $19,325. The company has not paid any cash royalties yet related to these sales. Prepare the journal entries that Fanatics.com made in 2021 related to

1) the sale of the licensed products

2) the royalty expense