6 Rodriguez Company pays $320,000 for real estate plus $16,960 in closing costs. The real estate consists of land appraised at $225,000, land improvements appratsed at $67,500, and a building appraised at $157,500 Required 1. Allocate the total cost among the three purchased assets 2. Prepare the journal entry to record the purchase points e this Allocate the total cost Appraised Value Appraised ValueAcquisition 11/26/2018