Journal Entry 
Chapter - 4
Question - 17

Enter the following transaction in the journal of Nikhil.
May 04 Sold goods of list price Rs. 1,00,000 at 10% trade discount to Prasant .
May 08 Goods of list price Rs. 4,000 Was returned by prasant.
May 14 He settled the amount by receiing 5% cash discount.