6.5 Note, this question should not be attempted until cash discounts and trade discounts have been covered (see Chapters 13 and 14). On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were: Kirk's transactions during October were as follows: 1 Sold faculty phasers, original cost f500, to Klingon Corp, for cash f5,000 2 Bought Photon Torpedoes (weapons), on credit from Central Council 2,500 3 Sold Stocks to Aardvarks, original cost f250, on credit, f1,500 4 Bought Cloaking Device (Fixture and Fittings) from Klingon Corp 3,500 5 Paid the balance owed to Spock at 1 October less a 5% cash discount 6 Paid Central Council full amount due by cheque 7 Received full amount due from Aardvarks by cheque 67 1 Introduction to double entry bookkeeping 8 Paid Klingon Corp by cheque after deducting 20% trade discount 9 Paid, by bankers order, 10,000 for repairs to Enterprise following disagreement over amount owing to Klingon Corp and faculty phasers. Required: Open Enterprise's ledger accounts at 1 October, record all transactions for the month, balance the ledger accounts, and prepare a trial balance as at 31 October