(Solved): The Distance Plus partnership has the following capital balances at the beginning of the current ye ...

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: A (40%) 8 (30%) C (30%) 60,000 30,000 45,000 Each of the following questions should be viewed independently 1.1f D invests $60,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. 2.If D invests $30,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. 3.If D invests $40,000 in cash in the business for a 20 percent interest, what joumal entry is recorded? Assume that the goodwill method is used.