I have finished Required A and B. Required C has two parts.

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (40%) Phil (40%) Ernie (20%) $140,000 110,000 125,000 Each of the following questions should be viewed independently. a. If Sergio invests $180,000 in cash in the business for a 30 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 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $130,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the goodwill method is used. Required A Required B Required C If Sergio invests $180,000 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.) General Journal Credit No 1 Transaction 1 Debit 180,000 Cash Tiger, capital Phil, capital Ernie, capital Sergio, capital 5,400 5,400 2,700 166,500 Required Required B > Required A Required B Required C If Sergio invests $150,000 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.) No Transaction General Journal Debit Credit 1 1 Cash 150,000 Tiger, capital 3,000 Phil, capital 3,000 Ernie, capital 1,500 Sergio, capital 157,500 Required A Required B Required C If Sergio invests $130,000 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.) View transaction list Journal entry worksheet Record the entry for goodwill allocation, during the admission of a new partner. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Required A Required B Required C If Sergio invests $130,000 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.) View transaction list Journal entry worksheet N Record the investment made by the new partner in the business. Note: Enter debits before credits. General Journal Debit Credit Transaction 2