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%) Phil (40%) Ernie (10%) $ 70,000 40,000 55,000 Each of the following questions should be viewed independently. a. If Sergio invests $60,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $50,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $60,000 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. Required A Required B Required C If Sergio invests $60,000 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.) 1 No Transaction 1 Goodwill Ernie, capital Tiger, capital Phil, capital Sergio, capital General Journal Debit Credit 75,000 7,500 37,500 30,000 60,000