I have overstated my rent recievables and need to adjust it down to the correct amount. What should the J/E be? Please help!!

My Tenant Receivable is showing at a debit of 717,452.96 credit 668,208.11 balance of 54782.00. It should be $266859.00 How do I adjust it down to the correct amout? My rent account is way to high as well. How do I adjust that down to actual? Please help