Diego Company paid $$185,000$ cash to acquire a group of items consisting of land appraised at $$42,000$ and a building appraised at $$168,000.$ Allocate total cost to these two assets and prepare an entry to record the purchase.

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Total Cost

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Journal

Allocate total cost to these two assets.

$\backslash$table$[[$Land$,$Percent of Total Apportioned Cost$],[$Building$,20\%$