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 $$32,600$ at December $31,2023,$ as follows:

General Journal Debit Credit

Receivable$$royalty revenue $32,600$

Royalty revenue $32,600$

Boylan received royalties of $$38,000$ on April $1,2024,$ and $$42,000$ 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 $$520,000.$

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.