Determine the total value of the merchandise using net realizable value. Item Quantity Selling Price Doll 10 Horse 5 $7 9 Commission 3 $2 3 Journalize the entries to record the following: June 1 Established a petty cash fund of $200. 30 The amount of cash in the petty cash fund is now $57. The fund is replenished based on the following receipts: postage, $25; entertainment, $100; and miscellaneous, $20. Journal Date Description Post. Ref. Debit Credit