- Open your original layered PSD file.
- Go to Layer > Flatten Image. If prompted to discard hidden layers, click OK.
- Go to Image > Image Size and change your resolution to 72 dpi. Change your pixel dimensions to 500x500. (Make sure "Resample Image" is on.) Click OK.
- Go to File > Save As and choose JPG as the file type. When prompted, choose a compression value of 10. Click OK.