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TRADE ACCOUNTS RECEIVABLE | 12 Months Ended
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Dec. 31, 2019
TRADE ACCOUNTS RECEIVABLE |
TRADE ACCOUNTS RECEIVABLE | NOTE 5 — TRADE ACCOUNTS RECEIVABLE
|  | 2019 |  | 2018
Trade accounts receivable - in Brazil |  | 1,193,971 |  | 1,056,625
Trade accounts receivable - exports from Brazil |  | 117,274 |  | 373,593
Trade accounts receivable - outside of Brazil |  | 1,459,204 |  | 1,929,595
(-) Impairment loss on trade receivables |  | (98,079) |  | (158,157)
|  | 2,672,370 |  | 3,201,656
Accounts receivable by aging are as follows:
|  | 2019 |  | 2018
Current |  | 2,226,121 |  | 2,362,408
Past-due: |  |  |  |
Up to 30 days |  | 381,999 |  | 792,569
From 31 to 60 days |  | 58,972 |  | 63,294
From 61 to 90 days |  | 30,202 |  | 10,133
From 91 to 180 days |  | 15,384 |  | 22,261
From 181 to 360 days |  | 16,739 |  | 26,003
Above 360 days |  | 41,032 |  | 83,145
(-) Impairment on financial assets |  | (98,079) |  | (158,157)
|  | 2,672,370 |  | 3,201,656
The Company's maximum exposure to credit risk, net of impairment on financial assets, is the amount of accounts receivable. The impairment on financial assets net of recoveries recognized for the years ended on December 31, 2019 and 2018 represents 0,05% and 0,02% on net sales, respectively. The credit quality of accounts receivable to maturity is considered adequate, and the amount of the effective risk of expected loss on accounts receivable from customers is presented as impairment on financial assets. The changes in the impairment on financial assets are as follows:
Balance as of January 1, 2017 |  | (199,306)
Impairment on financial assets during the year |  | (98,476)
Recoveries in the year |  | 80,134
Write-offs |  | 73,591
Loss of control by joint venture creation |  | 1,487
Assets held for sale |  | 11,207
Exchange variation |  | (276)
Balance as of December 31, 2017 |  | (131,639)
Effects of IFRS 9 adoption |  | (48,063)
Adjusted balance as of January 1, 2018 |  | (179,702)
Impairment on financial assets during the year |  | (111,900)
Recoveries in the year |  | 101,986
Write-offs |  | 39,943
Exchange variation |  | (5,136)
Assets held for sale |  | (3,348)
Balance as of December 31, 2018 |  | (158,157)
Impairment on financial assets during the year |  | (81,243)
Recoveries in the year |  | 60,199
Write-offs |  | 78,635
Exchange variation |  | 2,487
Balance as of December 31, 2019 |  | (98,079)

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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- References No definition available. + Details
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