Franklin and Bear arrive late at the library for a meeting about a forthcoming charity bike ride. Hearing only the tail end of Mrs. Goose's announcement, the boys assume they'll be competing in a bike "race". While all their friends are going door to door collecting pledges, Franklin and Bear spend all their time training for race day. By the time they realize the event is a fundraiser, it's too late. However, the boys get a chance to redeem themselves when a newspaper reporter sponsors their ride, hoping it will make good news story.
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