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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 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 vlewed independently.
Required:
a. If Serglo Invests $150,000 in cash In the business for a 20 percent Interest, what journal entry is recorded? Assume that the bonus
method is used.
b. If Serglo Invests $71,000 in cash in the business for a 20 percent Interest, what joumal entry is recorded? Assume that the bonus
method is used.
c. If Sergio Invests $80,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill
method is used.
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