Exercise 7-8A (Static) Accounting for uncollectlble accounts: percent of recelvables allowance method LO 72,73 Vulcan Service Company experienced the following transactions for Year 1, its first year of operations: 1. Provided $91,000 of services on account. 2. Collected $72,000 cash from accounts receivable. 3. Paid $36.000 of salaries expense for the year: 4. Adjusted the accounts using the following information from an accounts receivable aging schedule. Required a. Record the given transactions in general joutnal form and post to T-accounts. b. Prepare the income statement for Vulcan Service Company for Year 1 c. What is the net realizable value of the accouns recelvable at December 31 , Year 1