Charley Corp. has outstanding accounts receivable totaling $2.54 million as of December 31 and sales on credit during the year of $12.9 million. There is also a credit balance of $5,000 in the allowance for doubtful accounts. If the company estimates that 1% of its net credit sales will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?