Vulcan Service Co. experienced the following transactions for Year 1, its first year of operations 1. Provided $82,000 of services on account. 2. Collected $49,200 cash from accounts receivable. 3. Paid $28,000 of salaries expense for the year 4. Adjusted the accounts using the following information from an accounts receivable aging schedule Number of Days Past Due Percent Likely to Be Uncollectible .01 05 .10 .30 .50 Allowance Balance Current 0-30 31-60 61-90 Over 90 days Amount $24,272 1, 640 2,296 1,968 2,624 Required a. Record the above transactions in general journal form and post to T-accounts b. Prepare the income statement for Vulcan Service Co. for Year 1 c. What is the net realizable value of the accounts receivable at December 31, Year 1