The Distance Plus partnership has the following capital balances at the beginning of the current year:

Tiger (40% of profits and losses)	$	170,000
Phil (40%)		140,000
Ernie (20%)		155,000

Each of the following questions should be viewed independently.

1) If Sergio invests $210,000 in cash in the business for a 30 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.)

2) If Sergio invests $175,000 in cash in the business for a 30 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.)

3) If Sergio invests $204,000 in cash in the business for a 30 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.) Record the entry for goodwill allocation, during the admission of a new partner.