Blossom Stores is a new company that started operations on March 1, 2024. The company has decided to use a perpetual inventory system. The following purchase transactions occurred in March: Mar. 1 Blossom Stores purchases $8,500 of merchandise for resale from Octagon Wholesalers, terms 2/10, n/30, FOB shipping point. 2 The correct company pays $135 for the shipping charges. 3 Blossom returns $1,000 of the merchandise purchased on March 1 because it was the wrong colour. Octagon gives Blossom a $1,000 credit on its account. 21 Blossom Stores purchases an additional $11,500 of merchandise for resale from Octagon Wholesalers, terms 2/10, n/30, FOB destination. 22 The correct company pays $155 for freight charges. 23 Blossom returns $300 of the merchandise purchased on March 21 because it was damaged. Octagon gives Blossom a $300 credit on its account. 30 Blossom paid Octagon the amount owing for the merchandise purchased on March 1. 31 Blossom paid Octagon the amount owing for the merchandise purchased on March 21.