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Havermill Co. establishes a $270 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $75 for Office Supplies, $141 for merchandise inventory, and $24 for miscellaneous expenses. The fund has a balance of $30. On October 1, the accountant determines that the fund should be increased by $54. The journal entry to record the establishment of the fund on September 1 is:

Debit Cash $270; credit Petty Cash $270.

Debit Petty Cash $270; credit Accounts Payable $270.

Debit Miscellaneous Expense $270; credit Cash $270.

Debit Petty Cash $270; credit Cash $270.

Debit Cash $270; credit Accounts Payable $270.