Crane Company uses the percentage of sales method to record bad debt expense. It estimates that 1% of net credit sales (all made on account) will become uncollectible. Crane Company reported the following information in its general ledger for the year ended September 30, 2021:

Sales
Debit	Credit
	748,000
Accounts Receivable
Debit	Credit
271,000
Allowance for Doubtful Accounts
Debit	Credit
	4,500

Prepare the adjusting entry to record bad debt expense at year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Calculate the carrying amount of accounts receivable on September 30, 2021.