Total: You can restrict to get cash on delivery payment offer if your customer reaches your given total value to qualify.
Order Status: Default status of the order based upon completion of the payment section.
Status: Decide whether to enable this shipping for this Cash on delivery.
Sort Order: The given number determines the sequence of the payment in the ascending order menu. Eg. 1, the sorting sequence 2, 3, and so on.
Being in "pending" status is considered one of the best default conditions because it provides the administrator with some means to execute the order.