Prepare the journal entries to record these transactions on Cullumber Company's books. Cullumber Company uses a periodic inventory system. Feb. 5 Cullumber purchased $12,000 of merchandise from NW Wholesale Company, terms 2/10,n/ 6 The correct company paid freight costs of $110. 8 Cullumber returned $1,800 of the merchandise purchased on February 5. 11 Cullumber paid the balance due to NW Wholesale. Prepare the journal entries to record these transactions on Cullumber Company's books. Cullumber Company uses a periodic inventory system. lased $12,000 of merchandise from NW Wholesale Company, terms 2/10,n/30, FOB shipping point. pany paid freight costs of $110. ned $1,800 of the merchandise purchased on February 5. he balance due to NW Wholesale. (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 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit (Purchase on account.) (To record cash payment of freight.) (To record purchase return.) (Payment on account.)