Vulcan Service Company experienced the following transactions for Year 1, its first year of operations: Provided $72,000 of services on account. Collected $43,200 cash from accounts receivable. Paid $28,000 of salaries expense for the year. Adjusted the accounts using the following information from an accounts receivable aging schedule: Number of Days Past Due Amount Percent Likely to Be Uncollectible Allowance Balance Current $21,312 0.01 0 to 30 1,440 0.05 31 to 60 2,016 0.10 61 to 90 1,728 0.30 Over 90 days 2,304 0.50 Required Record the given transactions in general journal form and post to T-accounts. Prepare the income statement for Vulcan Service Company for Year 1. What is the net realizable value of the accounts receivable at Decemb