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 selling 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-john Questions 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? Balance Sheet Income Statements Net Assets Liabilities Stockholders' Equity Revenue - Expense = Income Accounts Options Accounts Cash Unearned Common + Retained receivables payable revenue Stock earings 300,000 + + 300,000 + + 300,000 300,000 300,000 300,000 300,000 300,000 Nothing, signing the contract does not constitute an accounting transaction = + + + = = B D a. Option A b. Option B c. Option C d. Option D