The Distance Plus Partnership has the following capital balances at the beginning of the current year.

Tiger (40% of profits and losses) $80,000

Phil (40%)50,000

Ernie (20%) 65,000

Each of the following questions should be viewed independently:

a. If Sergio invests $100,000 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.

b. If Sergio invest $75,000 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).

c. If Sergio invest $90,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume the goodwill method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field)