Exercise 7-8A (Static) Accounting for uncollectible accounts: percent of receivables allowance method LO 7-2, 7-3 Vulcan Service Company experienced the following transactions for Year 1 , is first year of operations: 1. Provided $91,000 of services on account. 2. Collected $72.000 cash from accounts receivable. 3. Pald $36,000 of salaries expense for the year. 4. Adjusted the accounts using the following information from an accounts receivable aging schedife: Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare the income statement for Vulcan Service Company for Year 1 . c. What is the net realizable value of the accounts recelvable at December 31 , Yeol 1? Complete this questlon by entering your answers in the tabs below. Grganize the transection data in accounts under an accounting equation. Notest Enter amy decreases to accourt baiances. with a minas aign. Not all cells require input: a. Organize the transaction data in accounts under an accounting equation. b. Prepare the income statement for Vulcan Service Company for Year 1 . c. What is the net realizable value of the accounts recelvable at December 31, Year 1? Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. Complete this question by entering your answers in the tabs below. Prepare the income statement for Vulcan Service Company for Year 1. Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare the income statement for Vulcan Service Company for Year 1. c. What is the net realizable value of the accounts receivable at December 31 , Year 1 ? Complete this question by entering your answers in the tabs below. What is the net realizable value of the accounts receivable at December 31 , Year 1