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Havermill Company establishes a $ 2 8 0 petty cash fund on September 1 . On September 3 0 , the fund is replenished. The

Havermill Company establishes a $280 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $76 for Office Supplies, $140 for merchandise inventory, and $25 for miscellaneous expenses. The fund has a balance of $21. On October 1, the accountant determines that the fund should be increased by $50. The journal entry to record the increase in the fund balance on October 1 is:
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Debit Petty Cash $330; credit Cash $330.
Debit Cash $50; credit Petty Cash $50.
Debit Miscellaneous Expense $50; credit Cash $50.
Debit Petty Cash $50; credit Accounts Payable $50.
Debit Petty Cash $50; credit Cash $50.

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