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 May 15 To record the sale of inventory on credit Debit Credit $250 $250