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Vulcan Service Co. experienced the following transactions for Year 1, ts first year of 1. Provided $91,000 of services on account. 2. Collected $72,000 cash

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Vulcan Service Co. experienced the following transactions for Year 1, ts first year of 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: Current 0-30 31-60 61-90 Over 90 days $7,800 4,500 2,000 2,200 2,500 0.01 0.05 0.10 0.20 0.50 a. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings") . Required VULCAN SERVICE Co Accounting Equation for the Year 1 Titles Common stock Retained Earni AccountsAllowance 0 + 0 0

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