On the $23$rd June $2023,$ Garak$$s Goods Ltd sold some slow moving inventories

costing $$40,000$ to Kleen Ltd for $$70,000$ on credit. At year$-$end, only $40\%$ of

these goods had been sold by Kleen Ltd to external entities at cost plus $50\%$

markup. Kleen Ltd paid the balance owing to Garak$$s Goods Ltd on $12$th July

$2023.$ A profit of $$30,000$ from the sale has been recognised. Is there anything

else needs to be done? Please provide any necessary journal entries.