You are the accountant for Pfizer Inc. Record the following transactions for October 2024:

• Oct 1: Received $350,000 in cash from the issuance of common stock.
• Oct 5: Purchased inventory worth $150,000 on credit.
• Oct 10: Paid $80,000 in cash for advertising expenses.
• Oct 15: Sold merchandise for $400,000 in cash.
• Oct 20: Paid $50,000 in cash for office rent.
• Oct 25: Received utility bills totaling $30,000, payable next month.
• Oct 31: Collected $250,000 in cash from customers for services provided.

Prepare the general ledger accounts for these transactions.