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 $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. Because 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. b. Santana's uncle Marcello is willing to invest $102,000 in the business as a preferred shareholder. Marcello would purchase 1,020 shares of $100 par value, 9% preferred stock. c. Santana's banker is willing to lend her $102,000 on a 9%, 11-year note payable. She would make monthly payments of $1,220 for 11 years. 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 > 1 2 3 Record the issue of common stock of $102,000 cash. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal > 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 $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. Because 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. b. Santana's uncle Marcello is willing to invest $102,000 in the business as a preferred shareholder. Marcello would purchase 1,020 shares of $100 par value, 9% preferred stock. c. Santana's banker is willing to lend her $102,000 on a 9%, 11-year note payable. She would make monthly payments of $1,220 for 11 years. 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 1 2 3 Record the issue of a note for $102,000 loan from the bank. Note: Enter debits before credits. Transaction C. General Journal Debit Credit View general journal Clear entry Record entry