Exercise 10-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is appraised at $220,500; land improvements are appraised at $98,000, and the building is appraised at $171,500. 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. (Round your "Apportioned Cost" answers to 2 decimal places.) Land Land improvements Building Totals Percent of Total Appraised Value Appraised Value x Total Cost of Acquisition -Apportioned Cost $ 0% $ 0.00