How do you record these transactions?

Question

12/30 Sold merchandise during the quarter on account, $500,000. Cost of the goods was $400,000. Operating expenses for the quarter totaled $32,000, with $25,000 of this amount paid in cash. Glenn Global uses a perpetual inventory system.

Answer 1

accountancy question - an accountant can answer

Answer 2

12/30Sold merchandise during the quarter on account, $500,000. Cost of the goods was $400,000

Dr  Accounts receivable $500,000

Cr  Sales $500,000

Dr  COGS $400,000

Cr  Merchandize inventory $400,000

Operating expenses for the quarter totaled $32,000, with $25,000 of this amount paid in cash

Dr  Various expenses $32,000

Cr  Cash $25,000

Cr  Accounts payable $7,000

I think what the other answerer was trying to say is this kind of questions should be under General - Business and Finance and not under Corporations