Vulcan Service Co. experienced the following transactions for 2016, its first year of operations 1. Provided $80,000 of services on account. 2. Collected S48,000 cash from accounts receivable 3. Paid $30,000 of salaries expense for the year 4. Adjusted the accounts using the following information from an accounts receivable aging schedule Number of Days Percent Likely to Allowance Balance Past Due Current 0-30 31-60 61-90 Over 90 days Amount Be Uncollectible $23,680 1,600 2,240 1,920 2,560 01 05 10 30 50 Round your intermediate calculations and final answers to nearest whole dollar.) Required a. Record the above transactions in general journal form and post to T-accounts. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Import a new list 1 Provided $80,000 of services on account. 2 Collected $48,000 cash from accounts receivable 3 Paid $30,000 of salaries expense for the year. 4 Record the adjustments on the accounts receivable account Cash Service Revenue Beg. Bal. Beg. Bal End. Bal. End. Bal. Accounts Receivable Salaries Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal Allowance for Doubtful Accounts Uncollectible Acctounts Expense Beg. Bal Beg. Bal End. Bal. End. Bal. b. Prepare the income statement for Vulcan Service Co. for 2016. VULCAN SERVICE CO Income Statement For the Year Ended December 31, 2016 Operating expenses Total Operating Expenses