When replenishing the petty cash fund you would: Debit cash and credit the related expense accounts Debit cash and credit petty cash credit cash and debit related costs credit cash and debit petty cash When recording a cash payment of an electric bill, you would Debit cash and credit utilities expense Debit cash and credit cash Credit cash and debit utilities expense Credit cash and debit cash The debt created by a business when it makes a purchase on account is referred to as an accounts payable accounts receivable asset expense payable