2. After 27 loans rejections, John family took equity loan on their house $100,000 and put the money into the business. Debt financing was recorded in the following manner; Asses Liabilities Stockholders' Equity Options Cash + Accounts receivables Accounts + payable Payables + Comman Stack + Retained eamings . A 100,000 + 100,000 +(100,000) + 4 +100,000 + + C 100,000 +100,000 + + D 100.000 100,000+ + Expense Net 100.000 3. After transferring his house into "mini factory" Daymond and his team were able to fulfill $75,000 worth of orders, that means $75,000 worth of apparel were shipped to the retailers. Daymond also mentioned that it took 30,60, 90 days for stores to pay FUBU. That is typical for B to B (Business to Business) to operate on credit. What journal entry d FUBU make on the day it shipped, $75,000 worth of apparel to retailers? Lates Expense Stockholders' Equity eve Accounts Options Cash + + payable Common Stack Katained amings A 75,000 + + 73,000 + +75,000 + + + +75,000 75,000 75,000 C + 75,000 D + 75,000 + 75,000 + + + + +75,000 73,000 75,000 Dy med c) expec 201 + . Page < > of 4 ZOOM + 9 * Quiz for Chapter 4. FUBU: Daymond John Daymond John grew up in the heart of hip-hop culture: Hollis, Queens. In his early 20s, as many of you, he was working as a waiter at the restaurant (Red Lobster) and trying to figure out how to start a business. Eventually, he stumbled on the idea of making clothes for fans of rap music. In 1992, he started FUBU (For Us By Us) and began seling hats outside of a local mall. Three years later, FUBU was bringing in $350 million in sales. Later he was a judge on Shark Tank, and he is a motivational speaker and author. Please, listen to FUBU: Daymond John episode of "How I built this" podcast and answer the following questions https://www.npr.org/2019/11/01/775448775/fubu-daymond Questions I 1. After the trading show in Las Vegas Daymond John signed $300,000 worth of orders from retailers. Let's assume that Daymond followed US Generally Accounting Principles for his business. What journal entry did FUBU make on the day the contracts were signed? Ast Balance Sheet Liabiliti Stockholders' Equity Net Income Options [1]] Common Stack Retained eamings A 300,000 + +300,000 + " 300,000 300,000 300,000 300,000 C 300,000 300,000 D Nothing, signing the contract does not constitute an accenting transaction a. Option A Option B Option C d. Option D