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

oss percentages:

Each of the following questions should be viewed independently.

a$.$ 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.

b$.$ If Sergio invests $$140,000$ 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 $$150,000$ in cash in the business for a $30$ percent interest, what journal entry is recorded? Assume that the

goodwill method is used.