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Pass journal entry for the following of nidhi :
April 5
Paid amount to Prabhat Electric Co. on account 1,00,000
April 7
Sold goods to Mohit on the terms that Cash Discount shall be allowed @ 5% on payment made within 7 Days and @ 2% on payment made by 30th April, 2023
April 11
Sold goods to Karan 25,000 less 10% Trade Discount Amount was received from Mohit after Cash Discount
April 13
Received cheque from Karan in settlement of his account Paid Balance amount to Prabhat Electric Co. 21,500
April 14
Cheque received from Karan deposited in bank?
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Pass journal entry for the following of nidhi : April 5 Paid amount to...
Payment to Prabhat Electric Co. on account:
- On April 5, Nidhi paid an amount of 1,00,000 to Prabhat Electric Co. on account.

Sale of goods to Mohit:
- On April 7, Nidhi sold goods to Mohit with the following terms:
- Cash Discount of 5% will be allowed on payment made within 7 days.
- Cash Discount of 2% will be allowed on payment made by 30th April, 2023.

Sale of goods to Karan:
- On April 11, Nidhi sold goods to Karan amounting to 25,000 after allowing a Trade Discount of 10%.

Receipt of payment from Mohit and Karan:
- Nidhi received the payment from Mohit after availing the Cash Discount.
- On April 13, Nidhi received a cheque from Karan in settlement of his account.

Balance payment to Prabhat Electric Co.:
- On April 13, Nidhi paid the balance amount of 21,500 to Prabhat Electric Co.

Deposit of cheque received from Karan:
- On April 14, Nidhi deposited the cheque received from Karan in the bank for realization.
In summary, Nidhi made payments to Prabhat Electric Co., sold goods to Mohit and Karan with different discount terms, received payments from Mohit and Karan, and made the balance payment to Prabhat Electric Co. She also deposited the cheque received from Karan in the bank for realization.
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Pass journal entry for the following of nidhi : April 5 Paid amount to Prabhat Electric Co. on account 1,00,000April 7 Sold goods to Mohit on the terms that Cash Discount shall be allowed @ 5% on payment made within 7 Days and @ 2% on payment made by 30th April, 2023April 11Sold goods to Karan 25,000 less 10% Trade Discount Amount was received from Mohit after Cash DiscountApril 13Received cheque from Karan in settlement of his account Paid Balance amount to Prabhat Electric Co. 21,500April 14Cheque received from Karan deposited in bank?
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Pass journal entry for the following of nidhi : April 5 Paid amount to Prabhat Electric Co. on account 1,00,000April 7 Sold goods to Mohit on the terms that Cash Discount shall be allowed @ 5% on payment made within 7 Days and @ 2% on payment made by 30th April, 2023April 11Sold goods to Karan 25,000 less 10% Trade Discount Amount was received from Mohit after Cash DiscountApril 13Received cheque from Karan in settlement of his account Paid Balance amount to Prabhat Electric Co. 21,500April 14Cheque received from Karan deposited in bank? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Pass journal entry for the following of nidhi : April 5 Paid amount to Prabhat Electric Co. on account 1,00,000April 7 Sold goods to Mohit on the terms that Cash Discount shall be allowed @ 5% on payment made within 7 Days and @ 2% on payment made by 30th April, 2023April 11Sold goods to Karan 25,000 less 10% Trade Discount Amount was received from Mohit after Cash DiscountApril 13Received cheque from Karan in settlement of his account Paid Balance amount to Prabhat Electric Co. 21,500April 14Cheque received from Karan deposited in bank? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pass journal entry for the following of nidhi : April 5 Paid amount to Prabhat Electric Co. on account 1,00,000April 7 Sold goods to Mohit on the terms that Cash Discount shall be allowed @ 5% on payment made within 7 Days and @ 2% on payment made by 30th April, 2023April 11Sold goods to Karan 25,000 less 10% Trade Discount Amount was received from Mohit after Cash DiscountApril 13Received cheque from Karan in settlement of his account Paid Balance amount to Prabhat Electric Co. 21,500April 14Cheque received from Karan deposited in bank?.
Solutions for Pass journal entry for the following of nidhi : April 5 Paid amount to Prabhat Electric Co. on account 1,00,000April 7 Sold goods to Mohit on the terms that Cash Discount shall be allowed @ 5% on payment made within 7 Days and @ 2% on payment made by 30th April, 2023April 11Sold goods to Karan 25,000 less 10% Trade Discount Amount was received from Mohit after Cash DiscountApril 13Received cheque from Karan in settlement of his account Paid Balance amount to Prabhat Electric Co. 21,500April 14Cheque received from Karan deposited in bank? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
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