SP 11 Serial Problem Business Solutions (Algo) LO P1, C1, C2 Santana Rey created Business Selutions on October 1, 2021. The company has been successful, and Santana plans to expand her business 5 he beleves that an addilional 594,000 is needed and is investigating three funding sources a. Samtanas sister Cicely is willing to imvest $94,000 in the business as a common shareholder. Because Santana currently has about $141,000 invested in the business, Cicely's investment will mean that Santona will mastain about 60% ownership and Cicely will have 40% ownership of Business Solutions. b. Santann's uncle Marcello is willing to iovest $94,000 in the business as a preferred shareholdec. Marcello would purchase 940 shares of $100 par value, 83 preforred stock c. Sontana's banker is willing to lend her $94,000 on a 8%, to-year note payoble. She would make monthly payments of $1,140 for 10 years. Required: 1. Prepare the journal entry to reflect the inatial $94,000 imveslment under each of the eptions a, b, and b Required: 1. Prepare the journal entry to refiect the initial $94,000 imvestment under each of the options a, b, and , Journal entry worksheet Recerd the issue of common stock of 594,000 cash. Required: 1. Prepare the joumal entry to reflect the initial $94,000 investment under each of the options a,b, and c. Journal entry worksheet Hecord the issue of preferred stock of $94,000 cash. Note Erder detits before credits. Required: 1. Prepare the journal entry to reflect the initial $94,000 investment under each of the options a,b, and c. Journal entry worksheet