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Problem 1 4 - 1 8 ( Algo ) ( LO 1 4 - 9 ) The Distance Plus partnership has the following capital balances
Problem AlgoLO
The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and
oss percentages:
Each of the following questions should be viewed independently.
a If Sergio invests $ in cash in the business for a percent interest, what journal entry is recorded? Assume that the bonus
method is used.
b If Sergio invests $ in cash in the business for a percent interest, what journal entry is recorded? Assume that the bonus
method is used.
c If Sergio invests $ in cash in the business for a percent interest, what journal entry is recorded? Assume that the
goodwill method is used.
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