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Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and Santana plans to expand her business. She believes that an

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Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and Santana plans to expand her business. She believes that 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, 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 $100,000 in the business as a preferred shareholder Marcello would purchase 1000 shares of $100 par value, 8% preferred stock. c. 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 for 10 years. Required: 1. Prepare the journal entry to reflect the initial $100,000 investment under each of the options (a), (b), and (c). View transaction list Journal entry worksheet Record the issue of common stock of $100,000 cash General Journal Debt Transaction Credit Journal entry worksheet

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