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Vulcan Service Company experienced the following transactions for Year 1, its first year of operations: 1. Provided $86,000 of services on account. 2. Collected $51,600 cash from accounts receivable. 3. Paid $26,000 of salaries expense for the year. 4. Adjusted the accounts using the following information from an accounts receivable aging schedule: Required a. Record the given transactions in general journal form and post to T-accounts. b. Prepare the income statement for Vulcan Service Company for Year 1. c. What is the net realizable value of the accounts receivable at December 31 , Year 1 ? Complete this questlon by entering your answers in the tabs below. Journal entry worksheet Provided $86,000 of services on account. Note: Enter debits before credits. Post the entries to the T-accounts. (Round your intermediate calculations and final answers to nearest whole dollar.) \begin{tabular}{|l|l|l|l|l|} \hline Beginning Balance & & & & \\ \hline & & & & \end{tabular} Prepare the income statement for Vulcan Service Company for Year 1. (Round your intermediate calc answers to nearest whole dollar.) a. Record the given transactions in general journal form and post to T-accounts. b. Prepare the income statement for Vulcan Service Company for Year 1. c. What is the net realizable value of the accounts receivable at December 31 , Year 1 ? Complete this quedtion 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 inter and final answer to nearest whole dollar.)

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