Boltwood

Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows:

Lot		Appraised Value
1		$45,000
2		292,500
3		112,500

Boltwood paid $400,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout.