ercises Ch 08 1 4 points Mc Graw Saved Help Save & E Rodriguez Company pays $368,550 for real estate with land, land improvements, and a building. Land is appraised at $184,000; land improvements are appraised at $46,000; and the building is appraised at $230,000. 1. Allocate the total cost among the three 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 total cost among the three assets. Note: Round your "Apportioned Cost answers to 2 decimal places. Percent of Total Appraised Value Appraised Value Total Cost of Acquisition - Apportioned Cost Land $ 184.000 + Land improvements 46,000 Building 230,000 Totals $ 460,000 0% S 63 0.00 Prev 1 of 6 Next >