Olaf Corp. uses a perpetual inventory system. The company had the following inventory transactions in April:

Apr. 3 Purchased merchandise from DeVito Ltd. for $28,000, terms 1/10, n/30, FOB shipping point.

6 The appropriate company paid freight costs of $700 on the merchandise purchased on April 3.

7 Purchased supplies on account for $5,000.

8 Returned damaged merchandise to DeVito and was given a purchase allowance of $3,500. The merchandise was repaired by DeVito and returned to inventory for future resale.

30 Paid the amount due to DeVito in full.

Instructions

(a) Record the above transactions in Olaf's books.

(b) Assume that Olaf paid the balance due to DeVito on April 12 instead of April 30. Prepare the journal entry to record this payment on Olaf's books.