Aging of accounts receivable. Hamilia S.A.'s financial records show the following balances in its accounts receivable for fiscal 2008:

Hamilia uses the aging-of-accounts-receivable procedure for uncollectible accounts. At the end of fiscal 2008, the credit balance in the Allowance for Uncollectible Accounts is €96,600. Hamilia's analysis of recent collection experience suggests it should use the following percentages to compute the estimates of amounts that will eventually prove uncollectible: 0-30 days. 0.5%; 31-90 days. 3.0%; 91-150 days. 15%; and more than 150 days. 75%. Prepare the journal entry to provide for estimated uncollectibleaccounts.

Transcribed Image Text:

Age of Accounts 0-30 Days. 31-90 Days 91-150 Days Balance Receivable €980,000 130,000 102,000 More than 150 Days 68,000