1. On April 5, purchased merchandise from DeVito company for $18,000, terms 2/10,net/30,FOB shipping point. 2. On April 6, paid freight costs of $ 820 on merchandise purchased from DeVito company 3. On April 7, purchased equipment on account for $30,000 4. On April 8, returned some of April 5 merchandise, which cost $2,800 to DeVito company 5. Om April 15, paid the amount due to DeVito company in full Instructions A) Prepare the journal entries to record these transactions on the books of Olaf co. using a periodic inventory system. B) Assume that Olaf Co. paid the balance due to DeVito Company on May 4, instead of April15. Prepare the journal entry to record this payment

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times