Complete journal entires for A, B, C

The Distance Plus partnership has the following capital balances at the beginning of the current year: Tiger (50% of profits and losses) Phil (308) Ernie (208) $175,000 145,000 160,000 19:36 Each of the following questions should be viewed independently. a. If Sergio invests $190,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $150,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $170,000 in cash in the business for a 25 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 If Sergio invests $190,000 in cash in the business for a 25 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.) View transaction list Journal entry worksheet