Santana Rey created Business Solutions on October 1, 2018. The company has been successful, and Santana plans to exp business. She believes that an additional $94,000 is needed and is investigating three funding sources. a. Santana's sister Cicely is willing to invest $94,000 in the business as a common shareholder. Since Santana currently h $141,000 invested in the business, Cicely's investment will mean that Santana will maintain about 60% ownership and have 40% ownership of Business Solutions. shares of $100 par value, 8% preferred stock. month for 10 years. b. Santana's uncle Marcello is willing to invest $94,000 in the business as a preferred shareholder. Marcello would purclh c. Santana's banker is willing to lend her $94,000 on a 896, 10-year note payable. She would make monthly payments of Required: 1. Prepare the journal entry to reflect the initial $94,000 investment under each of the options (a), (D), and (c). View transaction list Journal entry worksheet 2 Record the issue of common stock of $94,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Journal entry worksheet 2 3 Record the issue of preferred stock of $94,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record the issue of a note for $94,000 loan from the bank Note: Enter debits before credits. Transaction General Journal Debit Credit C