'Handbag' should be accepted (the standard British term), as should 'purse' (which I believe is the standard American term for what you will see on google images if you search for 'bolsa rosa')
"bolsa" is better translated as "purse" or "handbag". "bag" usually means "mala".
I agree; the translation should accept "The bag is pink." and "The purse is pink." They are the definitions given for "bolsa."
Is the "l" in "bolsa" pronounced like an English "l," or a different way? In the audio it sounds skipped-over or slightly as if it were a "l" at the end of a word in Portuguese (as in Brasil).