This information relates to Hans Olaf Co.

1. On April 5 purchased merchandise from D. DeVito Company for $18,000. terms 2 10. net 30.

FOB shipping point.

2. On April 6 paid freight costs of $900 on merchandise purchased from D. DeVito Company.

3. On April 7 purchased equipment on account for $26,000.

4. On April 8 returned some of April 5 merchandise to D. DeVito Company which cost $2,800.

5. On April 15 paid the amount due to D. DeVito Company in full.

Instructions

(a) Prepare the journal entries to record these transactions on the books of Hans Olaf Co.

using a periodic inventory system.

(b) Assume that Hans Olaf i'o. paid the balance due to D. DeVito Company on May 4 instead ol \pnl 15 Prepare the journal entry to record this payment.