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.

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.)

Transaction	General Journal	Debit	Credit