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