Closing out books after a sale?

[ACR1875]

Question is if this company sold this business in consideration for $8000 - entries to apply the $8000

Would go against - Cash Dr 8000
Inventory Cr 5228
A/R Cr 2977
loss on sale 206

To close out the G/L would I take the cash which is 8000+2162.75 = 10,162.75
of offset the A/P and offset the balance to retained earnings?

ASSETS
Current Assets
Checking/Savings
10000 · Bank Atlantic 2,162.75
Total Checking/Savings 2,162.75
Accounts Receivable
11000 · Accounts Receivable -22.25
11001 · Note Receivable - SI 3,000.00
Total Accounts Receivable 2,977.75
Other Current Assets
12100 · *Inventory Asset 5,228.84
Total Other Current Assets 5,228.84
Total Current Assets 10,369.34
TOTAL ASSETS 10,369.34
LIABILITIES & EQUITY
Liabilities
Long Term Liabilities
25501 · Notes Payable - 6,000.00
25502 · Note Payable - 12,553.12
Total Long Term Liabilities 18,553.12
Total Liabilities 18,553.12
Equity
30100 · Capital Stock 100.00
30200 · Capital paid in -1,300.00
30201 · Capital Paid in -558.37
32000 · Retained Earnings -9,401.37
Net Income -740.78
Total Equity -8,183.78
TOTAL LIABILITIES & EQUITY 10,36