Accounts December

PUSAT TUISYEN MINDA INSPIRASI
16-3, Jalan 23/70A, Desa Sri Hartamas, 50480 Kuala Lumpur.

Tel: 03-6206 2818 Email: admin@elo-edu.com Website: www.elo-edu.com
Name
Date
ACCOUNTING Paper 1 August 2015
1 hour 45 minutes
Candidates answer on the Question Paper.
No Additional Materials are required.
READ THESE INSTRUCTIONS FIRST
Write your candidate number and name on all the work you hand in.
Write in dark blue or black pen.
You may use a soft pencil for any diagrams or graphs.
Do not use staples, paper clips, highlighters, glue or correction fluid.
DO NOT WRITE IN ANY BARCODES.
Answer all questions.
You may use a calculator.
Where layouts are to be completed, you may not need all the lines for your
answer.
The businesses mentioned in this Question Paper are fictitious.
At the end of the examination, fasten all your work securely together.
The number of marks is given in brackets [ ] at the end of each question or part
question.
For Examiners Use

1
2
3
4
5
6
tota
l

1. (a) The cash book showed a balance in the bank of $1000 Dr. On the
same date, the bank
statement showed a balance in the bank of $900 Dr. Which could be the
reason for this difference?
A bank interest received
B payments made directly into the traders bank account
C standing order for property tax paid directly by the bank
D unpresented cheque
(b) What is an income statement (profit and loss account)?
A A list of all the assets and liabilities of a business at a particular date.
B A list of all the balances in the ledger accounts of a business at
aparticular date.
C A statement of receipts and payments of a business during a
particular period.
D A summary of income and expenditure of a business during a
particular period.
(c) Which entry is made to reduce a provision for doubtful debts?
account to be debited
account to be credited
A income statement(profit and loss account) provision for doubtful
debts
B provision for doubtful debts
income statement
(profit and loss
account)
C provision for doubtful debts
trade receivables
(debtors)
D trade receivables (debtors)
provision for doubtful
debts
(d) A sole trader compares his results with those of a similar business.
Which shows how well expenses are being controlled?
A bank balance
B cost of sales
C gross profit
D net profit
(e) Which error will require a correcting entry in a suspense account?
A cash paid to Gideon debited to Gibsons account
B motor vehicles account omitted from the trial balance
C purchase of fixtures for cash debited to the purchases account
D no entry made for cash paid for stationery
(f) Maria maintains a provision for doubtful debts at 5% of the trade
receivables (debtors)
at the end of each financial year.
On 31 December 2008 the trade receivables (debtors) owed $25 000 and
on 31 December 2009 the trade receivables (debtors) owed $20 000.

How much will appear in Marias income statement (profit and loss
account) for the
year ended 31 December 2009?
A $250 credit
B $250 debit
C $1000 credit
D $1000 debit
(g) Karls trial balance for 31 December 2009 includes the following
balances.
$
Sales
3 200
inventory (stock) at 1 January 2009 200
purchases
1 800
expenses
800
Karls inventory (stock) at 31 December 2009 was $300.
What is Karls net profit for the year?
A $400
B $500
C $700
D $1500
(h) The same accounting treatment should be applied to similar items at
all times.
Which accounting principle is being applied?
A consistency
B duality
C money measurement
D prudence
(i) What is cash discount?
A an allowance given to a customer for paying in cash
B an allowance given to a customer for prompt payment
C a deduction from the list price of goods bought by a customer
D a deduction from the list price of goods for bulk buying by a customer
(j) Which type of error is corrected using a suspense account?
A complete reversal
B omission
C principle
D single entry
[10]
2. In the month of April Suman had the following transactions with his
customers.
April
$
3 Cheque received from Ahar
1500
9 Cash sales
4000
12 Cheque received from Bannu
2000
18 Credit note issued to Chango
400
22 Credit transfer from Dooly
1650

28 Cheque received from Eduardo

900
REQUIRED
(a) Make the necessary entries in the bank and cash columns on the
debit side of
Sumans cash book for the month of April.
Suman
Cash book April 2010
Date
Bank
Detail
Cash
Dr$
Dr&
[10]
(b) In the table below, show how the transaction on 9 April should be
posted to the ledger.
Name of account
Dr$
Cr$
[2]
Suman prepared his trial balance at 30 April 2010 and transferred the
difference on the trial balance to a suspense account.
The balance shown in the bank column in Sumarus cash book at 1 April
2010 was
$620 Dr.
He found that this balance was incorrect and should have been $260 Dr.
REQUIRED

(c) Show (with narrative) the journal entry required to correct this error.
Date
Dr$
Cr$
[6]
(d) Suman is concerned that some of his customers to whom he has sold
on credit may
not be able to pay him.
Suggest two ways in which Suman might be able to encourage his
customers to pay
their invoices.
1
2
[4]
[Total:
22]
3. Griffin has a car hire business. He hires cars to customers for a fixed
period of time. He
buys cars new and keeps them for three years. At the end of the three
years a motor dealer
buys the used car in part exchange for a new car.
REQUIRED
(a) In the table below, place a tick under the correct heading to show
whether Griffins
receipts are capital or revenue.
Capital
Revenue
Hire charges
Cash discount received from motor dealer
for prompt payment for new car
Part exchange value of used car
[6]
(b) (i) On 1 April 2009 Griffin bought a new car at a cost of $12 000. He
charges
depreciation on cars using the reducing balance basis at 30% per annum.
Calculate the depreciation charged in Griffins income statement (profit
and loss
account) for the year ended 31 March 2010.
[3]

(ii) State the net book value of the car to be shown in Griffins balance
sheet at
31 March 2010.
[2]
(c) On 1 April 2010 the car was involved in an accident and was damaged
so badly that it
could not be repaired and had to be scrapped. The insurance company
paid Griffin
$5000 for the scrapped car.
Prepare the disposal of motor vehicles account in Griffins nominal
(general) ledger for
April 2010, showing any profit or loss on the disposal.
Disposal of motor vehicles account
[6]
(d) Griffin is finding that the part exchange value being paid by the
motor dealer is less
than the net book value after three years.
(i) Comment on the annual rate of depreciation charged by Griffin.
[2]
(ii) Suggest a different method for charging depreciation on Griffins
hire cars. Give
one reason for your answer.
Method
Reason
[2]
[Total:
21]
4. Monica has a shop. She writes up the books of account herself but is
not an experienced

bookkeeper. Her financial year ends on 28 February.

The trial balance she prepared on 28 February 2011 showed a shortage
on the debit side of
$720. Monica entered this in a suspense account and then prepared a
draft income
statement showing a profit for the year of $3600.
The following errors were later discovered.
1 A cheque payment of $460 to repay a loan from Carlo has been
correctly entered
in the cash book but $640 has been debited to his loan account.
2 Cash sales of $850 have been completely omitted from the books.
3 A cheque payment for $900 for goods has been entered in the cash
book but no
other entry has been made.
4 The purchase of new display shelves for $1200 has been debited to the
repairs
account.
REQUIRED
(a) Show the journal entries required to correct the above errors. The
date and narrative
are not required.
Dr$
Cr$
Error 1
Error 2
Error 3
Error 4
[8]
(b) Write up the suspense account in Monicas ledger from the above
journal entries.
Dates are not required.
Monica
Suspense account

[6]
(c) Prepare a statement to show Monicas profit for the year after
correcting the errors 1 - 4.
Monica
Statement of corrected profit for the year ended 28 February 2011
[6]
[Total:
20]
5. Theba maintains a petty cash book using the imprest system.
REQUIRED
(a) State one reason why Theba maintains a petty cash book in addition
to her main cash book.
[2]
(b) Explain what is meant by the imprest system of petty cash.
[2]
Thebas imprest amount is $200.
On 1 April 2012 she had $97 in the petty cash box. On the same day she
made a transfer
from the business bank account to restore the petty cash to the imprest
amount.
On 30 April 2012 Theba had the following petty cash vouchers.
$
April 4 Postage stamps
24
12 Stationery
36
17 Fuel for motor vehicle
38
21 Refund from stationery supplier
4

24 Catering supplies
12
29 Cleaning
70
REQUIRED
(c) Prepare Thebas petty cash book for the month of April 2012.
Balance the book on 30 April 2012 and carry down the balance.
Make the entry on 1 May 2012 to restore the petty cash to the imprest
amount.
[12]
(d) From the entries in the petty cash book, record the transactions for
the month in
Thebas ledger.
Postage and Stationery account
Motor expenses account

Catering supplies account
Cleaning account
[6]
(e) State the amount of petty cash which would be included in Thebas
balance sheet
prepared on 30 April 2012.
[1]
[Total:
23]
6.
Sam received a statement of his account with the Eastern
Commercial Company at
30 September 2010.
REQUIRED
(a) Give one purpose of sending a statement of account to a customer.
[2]
Sams statement was as follows.

EASTERN COMMERCIAL COMPANY
STATEMENT OF ACCOUNT
Sam 30 September 2010
Date
Detail
Balance$
Sept 1
Balance b/f
Dr$
400.00
Cr$
400.00

7
456.50
12
673.50
16.50
392.00
30
265.00
Sales invoice 301
56.50
Sales invoice 330
217.00
19
657.00
28
265.00
Balance c/f
Sales returns credit note29

Bank
Sam
Terms: 2% discount for settlement within 21 days.

REQUIRED
(b) (i) State why Sam paid $392 on 28 September when the balance
brought forward on
1 September was $400.
[1]
(ii) State whether this payment was for the correct amount. Give a
reason for your
answer.
[3]
On 19 October 2010 Sam deducted the discount offered from the
balance on the statement
dated 30 September 2010 and paid the net amount which he considered
was due.
REQUIRED
(c) (i) Calculate the amount Sam deducted from the balance due at 30
September. Show
your workings.
[3]
(ii) State the net amount which Sam paid on 19 October.
[3]
(d) Show the entries in the Eastern Commercial Companys accounts for
the month of
September to record each of the transactions shown in the statement of
account
Balance Sams account at 30 September.

Sam account
Sales account
Sales returns account
Cash book bank columns
[10]
(e) Sam wishes to take advantage each month of the discount terms
offered by the Eastern
Commercial Company.
Explain how Sam can ensure he obtains the discount each month.
[2]
[Total:
24]

NAME
DATE
Paper 2 December 2015

1 hour 45 minutes
Candidates answer on the Question Paper.
No Additional Materials are required.
READ THESE INSTRUCTIONS FIRST
Write your Centre number, candidate number and name on all the work you hand
in.
Write in dark blue or black pen.
You may use a soft pencil for any diagrams or graphs.
Do not use staples, paper clips, highlighters, glue or correction fluid.
DO NOT WRITE IN ANY BARCODES.
Answer all questions.
You may use a calculator.
Where layouts are to be completed, you may not need all the lines for your
answer.
The businesses mentioned in the Question Paper are fictitious.
At the end of the examination, fasten all your work securely together.
The number of marks is given in brackets [ ] at the end of each question or
part question.
For
Use
1
2
3
4
5
6
Total
Examiners

1. Shilpa Gandhi is a trader. Her financial year ends on 31 January.

On 31 January 2010, the balances in her books included the following:
$
Bad debts written off
210
Trade receivables (trade debtors) 15 530
On 31 January 2010, Shilpa Gandhi decided to:
1 write off $90 owed by K Singh;
2 create a provision for doubtful debts of 2% of the remaining trade
receivables (trade
debtors).
REQUIRED
(a) Calculate the amount of the provision for doubtful debts.
Show your workings.
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
........................ [2]
(b) Prepare the entries in Shilpa Gandhis journal to record the following
transactions.
(i) Writing off the bad debt.
(ii) Transferring the balance of the bad debts account to the income
statement (profit
and loss account).
(iii) Creating the provision for doubtful debts.
Narratives are required.
Journal
Debit$
Credit$
(i) ........................................................ ..................... .....................
........................................................ ..................... .....................
........................................................ ..................... .....................
........................................................ ..................... .....................
(ii) ........................................................ ..................... .....................
........................................................ ..................... .....................
........................................................ ..................... .....................
........................................................ ..................... .....................
(iii) ........................................................ ..................... .....................
........................................................ ..................... .....................
........................................................ ..................... .....................
........................................................ ..................... .....................
[9]
(c) Prepare a relevant extract from Shilpa Gandhis balance sheet at 31
January 2010.
Shilpa Gandhi

Extract from Balance Sheet at 31 January 2010

Current Assets
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
........................ [2]
Shilpa Gandhi deals in two types of inventory (stock).

She provided the following information about her inventory (stock) on
31 January 2010.
Type
Number of units
Cost per unit $
Selling price per
unit$
A
360
22
24
B
520
14
12
The following additional information is available at 31 January 2010.
Carriage inwards of $1 per unit was charged on Type A. This is not
included in the
above figures.
40 units of Type B were found to be damaged and had to be destroyed.
REQUIRED
(d) Calculate the total value of Shilpa Gandhis inventory (stock) on 31
January 2010.
Show your workings.
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
........................ [5]
(e) Name the accounting principle you have applied in (d) above when
valuing Shilpa
Gandhis inventory (stock).
............................................................................................................
..........................[1]
[Total: 19]

2. Helmut Lang is a trader. All his sales and purchases are made on
credit terms.
He provided the following information for the year ended 30 April 2010.
$
Revenue (sales)
430 500
Inventory (stock) 1 March 2009
25 200
Inventory (stock) 30 April 2010
28 000
Ordinary goods purchased (Purchases)
347 200
REQUIRED
(a) Explain the meaning of each of the following terms.
(i) Mark-up
............................................................................................................
......................
............................................................................................................
................ [1]
(ii) Margin
............................................................................................................
......................
............................................................................................................
................ [1]
(b) (i) Calculate the percentage mark-up.

Show your workings.
............................................................................................................
......................
............................................................................................................
......................
............................................................................................................
......................
............................................................................................................
......................
............................................................................................................
................ [4]
(ii) Calculate the percentage margin.
Show your workings.
............................................................................................................
......................
............................................................................................................
......................
............................................................................................................
......................
............................................................................................................
......................

............................................................................................................
................ [2]
(c) Suggest two ways in which Helmut Lang could improve his profit
margin.
1 ..........................................................................................................
............................
2 ..........................................................................................................
...................... [2]
Helmut Lang provided the following information at 30 April 2010.
$
Inventory (stock)
28 000
Trade receivables (trade debtors)
36 300
Trade payables (trade creditors)
29 600
Petty cash
100
Bank overdraft
13 200
REQUIRED
(d) Calculate the current ratio. The calculation should be correct to two
decimal places.
Show your workings.
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
........................ [3]
(e) Calculate the quick ratio. The calculation should be correct to two
decimal places.
Show your workings.
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
..............................
............................................................................................................
........................ [3]
Helmut Langs quick ratio at 30 April 2009 was 1.25:1.

REQUIRED
(f) State and explain whether you think that Helmut Lang will be
satisfied with the change
in the quick ratio.
Will
he
be
satisfied? ..............................................................................................
............
Explanation ...........................................................................................
............................
............................................................................................................
..............................
............................................................................................................
........................ [3]
(g) In the table below place a tick () under the correct heading to show
how each of the
following transactions would affect Helmut Langs working capital.
The first one has been completed as an example.
Transaction
effect on working
capital
increase decrease no effect
(i) introduction of further capital
(ii) payment of creditor in cash
(iii) repayment of long term loan
[2]
[Total:
21]
3. The following trial balance was extracted from the books of Robbie
McDonald at
30 September 2010.
Dr$
Capital
Drawings
Premises at cost
Motor vehicle at cost
Equipment at valuation
Provision for depreciation of motor vehicle
200
Provision for doubtful debts
Trade receivables (debtors)
Bad debts recovered
160
Trade
payables
16 250
Cr$
85 000
5 100
58 000
6 000
3 000
1
372
17 600
(creditors)

Bank
7 728
Inventory (stock) 1 October 2009
500
Revenue
216 000
overdraft
19
(sales)
Purchases
176 000
Wages 28 200
Property tax and insurance
Administration expenses
______
8 900
4 410
326 710
326 710
Additional information
1 Because of an oversight the inventory (stock) on 30 September 2010
was not
valued. Robbie marks up all his stock by 25%.
2 During the year ended 30 September 2010 Robbie took goods costing
$1900 for
his own use. No entries have been made in the accounting records.
3 The motor vehicle is being depreciated at 20% per annum using the
reducing
balance method.
4 Equipment was valued at $2340 on 30 September 2010. There were no
sales or
purchases of equipment during the year.
5 The provision for doubtful debts is to be maintained at 2% of the trade
receivables
(debtors).
6 A bank statement received on 30 September 2010 included an entry
for bank
interest of $1550. No entries have been made in the accounting records.
7 The property tax and insurance includes $2400 for insurance of the
premises. This
represents insurance cover for the sixteen months to 31 January 2011.
REQUIRED
Prepare the income statement (trading and profit and loss account) of
Robbie McDonald for
the year ended 30 September 2010.
The value of the inventory (stock) on 30 September 2010 should be
clearly shown in the
income statement (trading and profit and loss account).
Robbie McDonald
Income Statement (Trading and Profit and Loss
Account) for the
year ended 30 September 2010

[Total: 20]
4. Suzie Chow is a trader. She maintains a full set of books of prime
(original) entry and
prepares a sales ledger control account and a purchases ledger
control account at the end
of each month.
REQUIRED
(a) State two advantages of preparing control accounts.
(i)
(ii)
[2]
Suzie Chow provided the following information for the month of
September 2010.
$
September 1 Debit balances in sales ledger
21 976
Credit balance in sales ledger
54
September 30 Totals for the month
Cheques
paid
to
credit
suppliers
24 585

Cheques
received
from
credit
customers
21 860
Cheque received from a credit customer (included
in the cheques received shown above) later dishonoured
610
Discounts
allowed
488
Discounts
received
532
Returns
to
credit
suppliers
414
Returns
by
credit
customers
391
Credit
sales
22 800
Bad
debts
written
off
100
Provision
for
doubtful
debts
550
Contra
entry
78
REQUIRED
(b) Select the relevant figures and prepare Suzie Chows sales ledger
control account for
the month ended 30 September 2010.
There is only one balance on the account at the end of the month.
Where a traditional T account is used it should be balanced and the
balance brought
down on 1 October 2010.
Where a three column running balance account is used the balance
column should be
up-dated after each entry.
Suzie Chow
Sales ledger control account

[11]
(c) Explain the meaning of a contra entry in connection with control
accounts and explain
why such an entry may be made.
[2]
(d) Explain why the information used to write up Suzie Chows sales
ledger control account
is obtained from books of prime (original) entry and not from the
sales ledger.
[2]
Suzie Chows financial year ended on 30 September 2010. Her total

sales for the year were
as follows.
$
Cash sales
95 000
Credit sales
275 000

She allows her credit customers a period of 21 days in which to pay

their accounts.
REQUIRED
(e) Using the closing balance on the sales ledger control account you
prepared in (b) and
the above information, calculate the debtors collection period. Your
answer should be
rounded up to the next whole day.
Show your workings.
[2]
(f) Suggest three ways in which the collection period for debtors may
be improved.
(i)
(ii)
(iii)
[3]
5. Anna DSouza is a trader. She buys and sells on both cash and
credit terms.

Anna DSouza allows her credit customers 21 days credit and her
credit suppliers allow her
30 days credit.
The following information is available.
For the year ended 31 March 2011
Purchases
Sales
$
$
Cash
8 700
11
400
Credit
42 500
52
800
At 31 March 2011
$
Trade receivables
Trade payables
Inventory
Bank overdraft
4100
5300
3800
2900
REQUIRED
(a) Calculate the payment period for trade payables. Your answer
should be rounded up to
the next whole day.
Show your workings.
[2]
(b) State and explain whether Anna DSouzas credit suppliers will
regard the payment
period as satisfactory.
Will they be satisfied?
Explanation
[3]
(c) Calculate the collection period for trade receivables. Your answer
should be rounded
up to the next whole day.
Show your workings.

[2]
(d) The collection period for trade receivables for the year ended 31
March 2010 was
24 days.
State and explain whether the change in the collection period is an
advantage or a
disadvantage to Anna DSouza.
Advantage or disadvantage?
Explanation
[3]
(e) Explain two ways in which Anna DSouza could improve the
collection period for trade
receivables.
(i)
(ii)
[2]
(f) Calculate the current ratio. The calculation should be correct to
two decimal places.
Show your workings.
[2]
(g) State and explain whether Anna DSouza will be satisfied with the
ratio you calculated
in (f).
Will she be satisfied?
Explanation
[2]
(h) Explain two ways in which Anna DSouza could increase her
current ratio.
(i)

(ii)
[2]
[Total:
18]
6. Grace is a trader. Her financial year ends on 31 August.
The bank columns of her cash book for the month of August 2011
were as follows:
Cash Book (bank columns only)
$
$
2011
2011
Aug 1 Balance b/d
54
Aug 4 Equipment
1300
11 Paul Nlovu
117
17 Jane Abbasi
129
30 Sales
490
28 Omega
Supply Co 284
31 Balance c/d
1052
1713
1713
Sept 1 Balance
b/d
1052
Graces business bank statement for August 2011 was as follows:
Bank Statement at 31 August 2011
Debit
Credit
Balance
2011
$
$
$
Aug 1 Balance
154
154 Cr
2 Rent received (credit transfer)
200
354 Cr
7 ABC Insurance Co
50
304 Cr
10 Equipment
1300
996 Dr
18 Paul
117
879 Dr
22 Jane
129
1008 Dr
30 Bank charges
39
1047 Dr
The following errors were discovered.
1 The cash book balance brought forward on 1 August 2011 should
have been $154.
2 The bank has debited $50 for an insurance premium to Graces
business
account instead of her personal account.

REQUIRED
(a) Update Grace s cash book. Bring down the updated cash book
balance on
1 September 2011.
Cash Book (bank columns only)
[7]
(b) Prepare a bank reconciliation statement for Grace at 31 August

2011.
Bank Reconciliation Statement at 31 August 2011
[8]
Graces bank overdraft has increased during the year ended 31
August 2011. She
is concerned that this is affecting the rate at which she pays her
suppliers.
Grace s purchases for the year ended 31 August 2011 were as
follows.
$
Credit purchases 15 500
Cash purchases
4 800
Her credit suppliers allow her one month in which to pay their
accounts.

On 31 August 2011 Grace owed her credit suppliers $1790.

REQUIRED
(c) Calculate the payment period for trade payables. Your answer
should be rounded up to
the next whole day. Show your workings.
[2]
(e) State two possible advantages to Grace Ngema of paying her
credit suppliers before
the due date.
(i)
(ii)
[2]
(f) State one possible disadvantage to Grace Ngema of paying her
credit suppliers before
the due date.
[1]
[total 20]

Accounts December

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Accounts December

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PUSAT TUISYEN MINDA INSPIRASI

16-3, Jalan 23/70A, Desa Sri Hartamas, 50480 Kuala Lumpur.

For Examiners Use

PUSAT TUISYEN MINDA INSPIRASI

PUSAT TUISYEN MINDA INSPIRASI

PUSAT TUISYEN MINDA INSPIRASI

28 Cheque received from Eduardo

PUSAT TUISYEN MINDA INSPIRASI

PUSAT TUISYEN MINDA INSPIRASI

PUSAT TUISYEN MINDA INSPIRASI

bookkeeper. Her financial year ends on 28 February.

PUSAT TUISYEN MINDA INSPIRASI

PUSAT TUISYEN MINDA INSPIRASI

Motor expenses account

PUSAT TUISYEN MINDA INSPIRASI

Catering supplies account

Sams statement was as follows.

PUSAT TUISYEN MINDA INSPIRASI

Sales invoice 301

Sales invoice 330

Sales returns credit note29

Terms: 2% discount for settlement within 21 days.

PUSAT TUISYEN MINDA INSPIRASI

Sales returns account

Cash book bank columns

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Paper 2 December 2015

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1. Shilpa Gandhi is a trader. Her financial year ends on 31 January.

PUSAT TUISYEN MINDA INSPIRASI

Extract from Balance Sheet at 31 January 2010

Shilpa Gandhi deals in two types of inventory (stock).

PUSAT TUISYEN MINDA INSPIRASI

(b) (i) Calculate the percentage mark-up.

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Helmut Langs quick ratio at 30 April 2009 was 1.25:1.

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Suzie Chows financial year ended on 30 September 2010. Her total

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She allows her credit customers a period of 21 days in which to pay

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(b) Prepare a bank reconciliation statement for Grace at 31 August

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On 31 August 2011 Grace owed her credit suppliers $1790.

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