The broiler element in the Broil mode does not get red hot when turned on. It is actually cold. The broiler element when turned on Bake mode does get hot and when temperature was checked it was accurate. Bottom element works fine and does get red hot. Is it the broiler element or is there a receptacle that needs to be replaced or is it something else we should be looking at?

Here are your parts
Parts for Whirlpool RF367LXSS0 Range - AppliancePartsPros.com

See the attachment for the tech sheet.

If you are sure that the broil element cycles during bake and preheat, then I would say that it is a control board problem. Either the broil relay itself or the electronics that control the broil relay. In either case I would replace it.

On some units the oven will heat to set point if the broil element is bad but will take longer. Also a cake etc. will not bake correctly as there are large temperature swings and an uneven temperature profile in the oven.

So if not sure that the broil element is working during preheat and bake:
Check the broil element for resistance, should be around 16 ohms.
Check the thermal fuse (Item 26 in section 03), should be 0 ohms.
Check the wiring to/from the broil element to the control board.