1 3 Blossom Stores is a new company that started operations on March 1, 2021. The company has decided to use a perpetual inventory system. The following purchase transactions occurred in March Mar. Blossom Stores purchases $9,300 of merchandise for resale from Octagon Wholesalers, terms 2/10, 1/30, FOB shipping point. 2 The correct company pays $135 for the shipping charges Blossom returns $1,100 of the merchandise purchased on March 1 because it was the wrong colour. Octagon gives Blossom a $1,100 credit on its account Blossom Stores purchases an additional $12.500 of merchandise for resale from Octagon Wholesalers, terms 2/10, 30, FOB destination The correct company pays $165 for freight charges. Blossom returns 5500 of the merchandise purchased on March 21 because it was damaged. Octagon gives Blossoma $500 credit on its account Blossom paid Octagon the amount owing for the merchandise purchased on March 1. Blossom paid Octagon the amount owing for the merchandise purchased on March 21. 21 22 23 30 31 Prepare Blossom Stores Journal entries to record the above transactions. (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 Credit (Purchase on account.) (To record cash payment of freight) (To record purchase return.) (Purchase on account.) Post the transactions to the Merchandise Inventory account Compare the total in this account with the total of the cash paid during March by Blossom for the purchase of inventory. (Note: Assume there were no sales of inventory in March) (Post entries in the order of journal entries presented in the previous part) Merchandise Inventory Total cash payments for inventory in March $