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, $3,330. 8 Paid freight charge on merchandise purchased, $330. 12 Sold merchandise on account to Diamonds Unlimited, $4,200. 15 Received a credit memo from Prestigious Jewelers for merchandise returned, $720. 22 Issued a credit memo to Diamonds Unlimited for merchandise returned, $910. Journalize the transactions in a general journal using the periodic inventory method