The sentence that is punctuated correctly is:
A. I baked many items for the bake sale: banana and blueberry muffins; chocolate and lemon cupcakes; and blackberry and cherry pie.
In this sentence, the colon is correctly used to introduce a list, and semicolons are appropriately used to separate the complex items in the list.
Sentence B incorrectly uses a colon after "received," as there is no complete independent clause before the colon. Instead, it should simply list the items without the colon.