Concord Corporation has outstanding accounts receivable totaling $1.26 million as of December 31 and sales on credit during the year of $6.38 million. There is also a debit balance of $6600 in the allowance for doubtful accounts. If the company estimates that 2% of its accounts receivable will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense