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Santana Rey created Business Solutions on October 1, 2016. The company has been successful, and Santana plans to expand her business. She believes an additional

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Santana Rey created Business Solutions on October 1, 2016. The company has been successful, and Santana plans to expand her business. She believes an additional $100,000 is needed and is investigating three funding sources. a. Santana's sister Cicely is willing to invest $100,000 in the business as a common shareholder. Since Santana currently has about $150,000 invested in the business, Coey's investment will mean that Santana will maintain about 6 % ownership, and Coely will have b. Santana's uncle Marceillo is willing to invest $100,000 in the business as a preferred shareholder. Marcelo would purchase 1,000 shares e. Santana's banker is willing to lend her $100,000 on a 8%, 10-year note payable. She would make monthly payments of$1,213 per month 40% ownership of Business Solutions. of $100 par value, 8% preferred stock. for 10 years Required: 1, Prepare the journal entry to reflect the initial $100,000 investment under each of the options (a), (D), and (c). Journal entry worksheet Record the issue of common stock of $100,000 cash. Note: Enter debits before credts General Journal Debit Credit a

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