1. Presented below is information related to Atlantic Itd. Atlantic Itd sold to Hick Itd merchandise having a sales value of July 1 sh. 140,000 with terms 2/10, net 60. Atlantic records its sales and r receivables net. July 3 Hick Itd returned merchandise (which was defective) having a sales price of sh. 10,000. September 1 Hick informed Atlantic that it was having cash flow problems and issued a three month note with interest at 15% p.a. covering the total amount due. December 1 The note was honoured. Required: Show the general journal entries to record the above transactions. (9 marks)