Chapter 8- Capital Assets Rodriguez Company pays $605,405 for real estate with land, land improvements, and a building. Land is appraised at $358,000; land improvements are appraised at $45,000; and the building is appraised at $298,000. Calculate the cost allocations and prepare the journal entry to record this purchase. No. Date General Journal Debit Credit

Rodriguez Company pays $605,405 for real estate with land, land improvements, and a buliding. Land is appraised at $358,000; tand improvements are appraised at $45,000; and the building is appraised at $298,000. Calculate the cost allocations and prepare the journal entry to record this purchase