Mullen Manufacturing Ltd. sold $450,000 of merchandise on credit to customers in the month of September. All of the merchandise was sold FOB shipping point. At September 30, $45,000 of the merchandise was in transit. During September, the company collected $250,000 cash from its customers. The company estimates that about 2% of the sales will be returned by customers and that $4,500 of accounts receivable will not be collected. Mullen's allowance for doubtful accounts had a zero balance on September 1. How much revenue should the company recognize for the month of September? Describe how the uncollectible sales and returns by the customers should be accounted for.