Is the following true: "google can NOT see javascript. This means if you render a do-follow link in javascript, you will not get ANY backlink juice because Google bots don't find links through javascript."
Google only started being able to read javascript very recently. I think it depends on how you setup the javascript link. I doubt they would give credit to all javascript links though. A lot of those kinds of links are affiliate redirects and advertisements.
Google has been scanning embedded JavaScript for URLs for several years now. But the links in JavaScript do not pass PageRank or any other ranking value. That's why JavaScript is one of the recommended alternatives to rel="nofollow" on advertising.