The Distance Plus partnership has the following capital balances at the beginning of the current year: Tiger (50% of profits and losses) $160,000; Phil (40%) $130,000; Ernie (10%) $145,000 c. If Sergio invests $150,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the goodwill method is used

Journal:

Goodwill $15,000

Tiger, Capital 7,500

Phil, Capital 6,000

Ernie Capital 1,500

XXXX

XXXX

Need help with the last 2 journal entries and amounts, and they aren't: Cash, and Sergio, Capital