$1$

Exercise $8-3($Algo$)$ Lump$-$sum purchase of plant assets LO C$1$

$125$

Rodriguez Company pays $$326,430$ for real estate with land, land improvements, and a building. Land is appraised at $$188,000$; land polnts improvements are appraised at $$94,000$; and the building is appraised at $$188,000.$

Allocate the tofal cost among the three assets.

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Prepare the journal entry to record the purchase.