Current Attempt in Progress Prepare journal entries to record the following sales transactions in Blossom Company's books. Blossom uses a perpetual inventory system and the contract-based approach to revenue recognition. Management estimates that 10% of sales will be returned by customers within the 10-day return period. Feb. 2 Blossom sold $ 16,000 of merchandise to Kotter Company, 4 The correct company paid freight costs of $182. Kotter Company returned $1,600 of the merchandise purc Mar. 1 Blossom received the balance due from Kotter. (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 0 for the amounts. Recordamom