(Answered) Question - paul nasipak owns a business called diamond

Accounting

Question - 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, $3,200.

Jan. 8 Paid freight charge on merchandise purchased, $330.

Jan. 12 Sold merchandise on account to Diamonds Unlimited, $4,100.

Jan. 15 Received a credit memo from Prestigious Jewelers for merchandise returned, $670.

Jan. 22 Issued a credit memo to Diamonds Unlimited for merchandise returned, $850.

Journalize the transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank.

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