S. J. Boylan Engineering Group receives royalties on a technical manual written by two of its engineers and sold to William B. Irving Publishing, Incorporated. 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 2023 , and Boylan accrued royalty revenue of $44,600 at December 31,2023 , as follows: Boylan received royalties of $53,000 on April 1, 2024, and $57,000 on October 1,2024 . Irving indicated to Boylan on December 31 that book sales subject to royalties for the second half of 2024 are expected to be $670,000. Required: 1. \& 2. Prepare any necessary journal entry related to royalty revenue for 2024 and record adjustment, if any, made to retained earnings in the 2023 financial statements. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Tournal antry inrorlehast Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet Record year end adjustment for royalties. Note: Enter debits before credits. Journal entry worksheet Prepare any necessary journal entry to adjust retained earnings in the 2023 financial statements. Note: Enter debits before credits