Vulcan Service Company experienced the following transactions for Year 1, its first year of operations:

Provided $68,000 of services on account.

Collected $40,800 cash from accounts receivable.

Paid $30,000 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	$20,128	0.01
0 to 30	1,360	0.05
31 to 60	1,904	0.10
61 to 90	1,632	0.30
Over 90 days	2,176	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 December 31, Year 1?

Journal entry worksheet Provided $68,000 of services on account. Note: Enter debits before credits. eecord the given transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" n the first account field. Round your intermediate calculations and final answers to nearest whole dollar.) Journal entry worksheet Collected $40,800 cash from accounts receivable. Note: Enter debits before credits. Journal entry worksheet Paid $30,000 of salaries expense for the year. Note: Enter debits before credits. Record the given transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" n the first account field. Round your intermediate calculations and final answers to nearest whole dollar.) Journal entry worksheet Record the adjusting entry for uncollectible accounts. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Prepare the income statement for Vulcan Service Company for Year 1. (Round your intermediate calculations and final answers to nearest whole dollar.) Complete this question by entering your answers in the tabs below. What is the net realizable value of the accounts receivable at December 31, Year 1 ? (Round your intermedia and final answer to nearest whole dollar.)