Chapter - 8 Homework i Exercise 8-3 Lump-sum purchase of plant assets LO C1 2.42 points Rodriguez Company pays $385,000 for real estate plus $20,405 in closing costs. The real estate consists of land appraised at $243,000; land improvements appraised at $54,000; and a building appraised at $243,000. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase. eBook Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Print Appraised Value Percent of total x Total Cost of Appraised Acquisition Value = Apportioned Cost References Land Land improvements Building Totals Required Required 2 >