Check my work Exercise 8-3 Lump-sum purchase of plant assets LO C Rodriguez Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvements appraised at $58,890; and a building appraised at $176,670. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the tothl cost among the three purchased assets. Percent of Total x Total Cost of Appraised Value Appraised Value Apportioned Cost Acquisition Land Land improvements Building Totals KPrex 6 of 12 Next>