The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (40%) Phil (20%) Ernie (40%) $ 95,000 65,000 80,000 Each of the following questions should be viewed independently. a. 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. b. If Sergio invests $90,000 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 $108,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the goodwill method is used. Complete this question by entering your answers in the tabs below. Required A Required B Required C Sergio invests $120,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume th hethod is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account View transaction list Journal entry worksheet 1 > Record the admission of new partner under bonus method. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Wien If Sergio invests $90,000 in cash in the business for a 30 percent interest, what journal entry is recorded method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the View transaction list Journal entry worksheet Record the admission of new partner under bonus method. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 If Sergio invests $108,000 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.) View transaction list Journal entry worksheet 1 2 Record the entry for goodwill allocation, during the admission of a new partner. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal nu