eBook Show Me How Journal Entries-Periodic Inventory Paul Nasipak owns a business called Diamond Distributors. The following transactions took place during January of the current year. Jan. 5 Purchased merchandise on account from Prestigious Jewelers, $3,240. 8 Paid freight charge on merchandise purchased, $270. 12 Sold merchandise on account to Diamonds Unlimited, $4,700. 15 Received a credit memo from Prestigious Jewelers for merchandise returned, $720. 22 Issued a credit merno to Diamonds Unlimited for merchandise returned, $920. Journalize the transactions in a general journal using the perlodic inventory method. Page