Three programmers at Feenix Computer Storage, Inc., write an operating systems control manual for Hill-McGraw Publishing, Inc., for which Feenix receives royalties equal to 12% of net sales. Royalties are payable annually on February 1 for sales the previous year. The editor indicated to Feenix on December 31, 2018, that book sales subject to royalties for the year just ended are expected to be $360,000. Accordingly, Feenix accrued royalty revenue of $43,200 at December 31 and received royalties of $43,760 on February 1, 2019. What adjustments, if any, should be made to retained earnings or to the 2018 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