Question: please help with this question: Problem 14-18 (Algo) (LO 14-9) The Distance Plus partnership has the following capital balances at the beginning of the current

please help with this question:

Problem 14-18 (Algo) (LO 14-9)

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%)	$	90,000
Phil (30%)		60,000
Ernie (30%)		75,000

Each of the following questions should be viewed independently.

If Sergio invests $70,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used.

If Sergio invests $50,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used.

If Sergio invests $60,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used.

Please show all three in journal form.

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