20 pt Pan Shoe Inc. sells luxury shoes. On May 15th, Pan Shoe Inc. purchased $250...

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20 pt Pan Shoe Inc. sells luxury shoes. On May 15th, Pan Shoe Inc. purchased $250 of inventory on account. Journalize the purchase of inventory for Pan Shoe using a perpetual accounting system. Prepare a journal entry in a standard format. This means that debit entries should be listed first. . Do not use abbreviations for account titles. For example, if you are using Accounts Receivable, it should be typed as Accounts Receivable rather than AR or A/R Journals Date Accounts and Explanation Debit Credit May 15 $250 $250 To record the sale of inventory on credit 20 pt Pan Shoe Inc. sells luxury shoes. On May 15th, Pan Shoe Inc. purchased $250 of inventory on account. Journalize the purchase of inventory for Pan Shoe using a perpetual accounting system. Prepare a journal entry in a standard format. This means that debit entries should be listed first. . Do not use abbreviations for account titles. For example, if you are using Accounts Receivable, it should be typed as Accounts Receivable rather than AR or A/R Journals Date Accounts and Explanation Debit Credit May 15 $250 $250 To record the sale of inventory on credit