Journal Entries-Periodic Inventory Paul Nasipak owns a business called Diamond Distributors. The following transactions took place d Jan. 5 Purchased merchandise on account from Prestigious Jewelers, $3,300. . 8 Paid freight charge on merchandise purchased, $300. 12 Sold merchandise on account to Diamonds Unlimited, $4,500. 15 Received a credit memo from Prestigious Jewelers for merchandise returned, $700. 22 Issued a credit memo to Diamonds Unlimited for merchandise returned, $900. Journalize the transactions in a general journal using the periodic inventory method. riodic Inventory a business called Diamond Distributors. The following transactions took place during January of the current year. d merchandise on account from Prestigious lewelers, $3,300. aht charge on merchandise purchased, $300. rchandise on account to Diamonds Unlimited, \$4,500. d a credit memo from Prestigious Jewelers for merchandise returned, $700. a credit memo to Diamonds Unlimited for merchandise returned, $900. transactions in a general journal using the periodic inventory method. Journalize the transactions in a general journal using the periodic inventory method