Three programmers at Feentx Computer Storage, Incorporated, wite an operating systems control manual for Hill$-$McGraw Publishing, Incorporated, for which Feentx recelves royaltses equal to $12\%$ of net sales. Royalties are payable annually on February $1$ for sales the previous year. The editor indicated to Feentx on December $31,2024,$ that book sales subject to royalties for the year just ended are expected to be $$350,000.$ Accordingly. Feenbx accrued royalty revenue of $$42,000$ at December $31$ and recelved royalties of $$42,550$ on February $1,2025.$

What adfustments. If any, should be made to retained earnings or to the $2024$ financial statements?

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

Record adjustments to be made to retained earnings for $2024$ financial statements.

After eebes biftore crects.

$\backslash$table$[[$Enent$,$Cheneral Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

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