View Policies Current Attempt in Progress Olaf Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $28,000, terms 2/10, 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 merchandise to DeVito and received a credit of $3.500. The merchandise was returned to inventory for future resale. 30 Paid the amount due to DeVito in full. Additional information: 1. The cost of the merchandise sold on April 3 was $19.000. 2. The cost of the merchandise returned on April 8 was $2.300. 3. DeVito uses a perpetual inventory system. Record the transactions in the books of Devito. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)