The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Each of the following questions should be viewed independently. a. If Sergio invests $130,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $120,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $75,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used. Answer is not complete. Complete this question by entering your answers in the tabs below. If Sergio invests $120,000 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,) Purkerson, Smith, and Traynor have operated a bookstore for a number of years as a partnership. At the beginning of 2021 , capital balances were as follows: Due to a cash shortage, Purkerson invests an additional $14,000 in the business on April 1, 2021. Each partner is allowed to withdraw $1,000 cash each month. The partners have used the same method of allocating profits and losses since the business's inception: - Each partner is given the following compensation allowance for work done in the business: Purkerson, $10,000; Smith, $20,000; and Traynor, $6,000. - Each partner is credited with interest equal to 20 percent of the average monthly capital balance for the year without regard for normal drawings. - Any remaining profit or loss is allocated 3:2:5 to Purkerson, Smith, and Traynor, respectively. The net income for 2021 is $30,000. Each partner withdraws the allotted amount each month. Prepare a schedule showing calculations for the partners' 2021 ending capital balances. (Amounts to be deducted should be Indleated wlth minus slgn.)