Logical Reasoning Test Review Corp has a Net Realizable value of Accounts Receivable of $2, 750,000 as of 12/31/15 and an allowance for uncollectible accounts of $300,000 as of 12/31/15. In 2016 they have credit sales of $10, 500,000 and cash collections of $10, 850,000. They write off $320,000 of accounts in 2016. The collections manager estimates an allowance for uncollectible accounts of 13% at 12/31/16. REQUIRED: Provide the journal entry to record the bad debt expense for Logical Reasoning using the allowance method at 12/31/16. REQUIRED: Provide the Net Realizable value of accounts receivable at 12/31/16 for Logical Reasoning