Santana Rey created Business Solutions on October 1, 2020. The company has been successful, and Santana plans to expand her business. She believes that an additional $116,000 is needed and is investigating three funding sources. a. Santana's sister Cicely is willing to invest $116,000 in the business as a common shareholder. Because Santana currently has about $174,000 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 $116,000 in the business as a preferred shareholder. Marcello would purchase 1,160 shares of $100 par value, 9% preferred stock. c. Santana's banker is willing to lend her $116,000 on a 9%, 10-year note payable. She would make monthly payments of $1,469 for 10 years. Required: 1. Prepare the journal entry to reflect the initial $116,000 investment under each of the options (a), (b), and (c). years. Required: 1. Prepare the journal entry to reflect the initial $116,000 investment under each of the options (a), (b), and (c). View transaction list Journal entry worksheet 1 2 3 Record the issue of common stock of $116,000 cash. Note: Enter debits before credits. Transaction a. General Journal Debit Credit View general journal Record entry Clear entry View transaction list Journal entry worksheet < 1 2 3 Record the issue of preferred stock of $116,000 cash. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 Record the issue of a note for $116,000 loan from the bank. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal