Santana Rey created Business Solutions on October $1,2021.$ The company has been successful, and Santana plans to expand her business. She believes that an additional $$86,000$ is needed and is investigating three funding sources.

a$.$ Santana's sister Cicely is willing to invest $$86,000$ in the business as a common shareholder. Because Santana currently has about $$129,000$ invested in the business, Cicely's investment will mean that Santana will maintain about $60\%$ ownership and Cicely will have $40\%$ ownership of Business Solutions.

b$.$ Santana's uncle Marcello is willing to invest $$86,000$ in the business as a preferred shareholder. Marcello would purchase $860$ shares of $$100$ par value, $7\%$ preferred stock.

c$.$ Santana's banker is willing to lend her $$86,000$ on a $7\%,12-$year note payable. She would make monthly payments of $$884$ for $12$ years.

Required:

Prepare the journal entry to reflect the initial $$86,000$ investment under each of the options $a,b,$ and $c$