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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 $102,000 is needed and is investigating three funding sources a. Santana's sister Cicely is willing to invest $102,000 in the business as a common shareholder. Since Santana currently has about $153,000 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 shares of $100 par value, 9% preferred stock month for 11 years b. Santana's uncle Marcello is willing to invest $102,000 in the business as a preferred shareholder. Marcello would purchase 1,020 C. Santana's banker is willing to lend her $102,000 on a 996, 11-year note payable. She would make monthly payments of $1,220 per Required 1. Prepare the journal entry to reflect the initial $102,000 investment under each of the options (a), (b), and (c) View transaction list Journal entry worksheet 2 Record the issue of common stock of $102,000 cash Note: Enter debits before credits Transaction General Journal Debit Credit Record en Clear View al

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