10 points 7 Book Ask Print The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (50%) Phit (204) Ernie (30%) $165,000 135,000 150,000 Each of the following questions should be viewed independently. a. If Sergio Invests $190,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $100,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $120,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used. Mc References Geaw Complete this question by entering your answers in the tabs below. Required A Required B Required C If Sergio invests $190,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the admission of new partner under bonus method. Note: Enter debits before credits Transaction General Journal Debit Cred eflook Ask Print eferences Complete this question by entering your answers in the tabs below. Required A Required B Required C If Sergio invests $100,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the admission of new partner under bonus method. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Clear entry Record entry View general journal Required A Required C 10 points Block Ask Print Complete this question by entering your answers in the tabs below. Required A Required B Required C If Sergio invests $120,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)) View transaction list Journal entry worksheet 1 2 References Record the entry for goodwill allocation, during the admission of a new partner. Mc Graw Hin Note: Enter debits before credits Transaction 1 General Journal Debit Credit Clear entry Record entry View general journal