Wildhorse Manufacturing Inc. shipped finished goods inventory with a total cost of $$48,300$ to Sheffield Retailing Ltd$.$ on May $1.$ The agreement between the two companies was that Sheffield was to sell the product on consignment for Wildhorse Manufacturing. Wildhorse paid $$3,800$ in shipping costs in order to ship the merchandise. Sheffield paid a local newspaper $$1,500$ for advertising costs $($which Wildhorse promised to reimburse$).$ At September $30,$ the end of the accounting year for both companies. Sheffield had sold $75\%$ of the merchandise for total sales of $$67,000.$ Sheffield notified Wildhorse of the sales, retained a $20\%$ commission, and remitted the cash due to Wildhorse.

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Prepare the journal entries required by the above transactions on the books of Wildhorse Manufacturing. $($Round answers to $0$ decimal places, e$85,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $\text{'}$No Entry' for the account titles and enter $R$ for the amounts. Lst all debit entries before credit entries. Use 'Revenue from Consignment Sales' for the entry.$)$