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Samson Ltd undertook the following transactions for the month of March. 12 March Samson Ltd sold $40,000 of inventory to Fitness Ltd, terms 3/10, n/30.

Samson Ltd undertook the following transactions for the month of March. 12 March Samson Ltd sold $40,000 of inventory to Fitness Ltd, terms 3/10, n/30. The cost of inventory sold was $30,000. 20 March Samson Ltd received cash from Fitness Ltd in full settlement of the above transaction. Both Samson Ltd and Fitness Ltd use the perpetual inventory system. Ignore GST. Required: Journalise the above transactions in the books: a) Samson Ltd b) Fitness Ltd Narrations are not required

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