The Distance Plus partnership has the following capital balances at the beginning of the current year along with respectlve profit and loss percentages:

$\backslash$table$[[$Tiger $(508),135,000],[$Phil $(20\%),105,000],[$Ernie $(308),120,000]]$

Each of the following questions should be vlewed independently.

Required:

a$.$ If Sergio 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 Sergio invests $$80,000$ in cash In the business for a $20$ percent interest, what journal entry is recorded? Assume that the bonus method is used.

c$.$ If Serglo invests $$100,000$ in cash in the business for a $20$ 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 $C$

If Sergio invests $$150,000$ in cash in the business for a $20$ pencent interest, what journal entry is recorded? Assume that the bonus method is used.

Note: If no entry is requined for a transaction$/$event$,$ select $"$No joumal entry required" in the first account fleld.

Journal entry worksheet

$1$

Record the admission of new partner under bonus method.

Note: Enter debits before credits.