The following information is related to December 31, 2016 balances. Accounts Receivable $1,400,000 Allowance for Doubtful Accounts 120,000 During 2017 sales on account were $390,000 and collections on account were $230,000. Also, during 2017 the company wrote off $22,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at 9% of Accounts Receivable. 1) Prepare the Journal Entries for the 2017 transactions. 2) Calculate Bad Debt Expense 3) Calculate the Net Realizable Value