The Distance Plus partnership has the following capital balances at the beginning of the current year:

Tiger (50% of profits and losses)	$	100,000
Phil (40%)		70,000
Ernie (10%)		85,000

If Sergio invests $90,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the goodwill method is used.

If Sergio invests $90,000 in cash in the business for a 25 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.). This is what I got. I am struggling. Please, help and complete the work thoroughly