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

Provided $$91,000$ of services on account.

$2$ Collected $$72000$ cash from accounts receivable.

Paid $$36,000$ of salaries expense for the year.

Adjusted the accounts using the following information from an accounts receivable aging schedule:

$\backslash$table$[[\backslash$table$[[$Number of Days Past$],[$Due$]],$Amount,$\backslash$table$[[$Percent Likely to Be$],[$Uncollectible$]],\backslash$table$[[$Allowance$],[$Balance$]]],[$Current$,57,800,0\mathrm{.}01,],[-30,4,500,0\mathrm{.}05,],[31-60,2,000,0\mathrm{.}10,],[61-90,2,200,0\mathrm{.}2,],[$Over $90$ doys,$2,500,0\mathrm{.}50,]]$

Required:

a$.$ Organize the transaction data in accounts under an accounting equation.

b$.$ Prepare the income statement for Vulcan Service Company for Year $1.$

c$.$ What is the net realizable value of the accounts recelvable at December $31,$ Year $1?$

Complete this question by entering your answers in the tabs below.

Required A

Organize the transaction data in accounts under an accounting equation.

thote: Enter any decreases to account balances with a minus sign. Not all cells require input.

$\backslash$table$[[,,,,,$VULCA,NS$,$ERVICE CON,IPA,,$],[$Event$,,$Assets,,,Accoun,ting,Equation for,Ye$,,$Account Titles for Retained Earnings$],[$Cash$,*,\backslash$table$[[$As$],[$Accounts$],[$Recelvatio$]],-1,$Liabilities,$*,$Equity$],[1.,,*,,=,,1,,,$Earnings$],[2,,*,,=,,,,+,,],[3,,*,,=,,+,,+,,],[4,,-,,=,,+,,-,,],[$Balance$,,1.,$I,$=,,+,,+,,]]$