Exercise 10-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $389,610 for real estate with land, land improvements, and a building Land is appraised at $164,000; land improvements are appraised at $61,500; and a building is appraised at $184,500 Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Answer is not complete. 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.) Percent of Appraised x Total Total Cost of -Apportioned Value Appraised Acquisition Cost Vale Answer is not complete. 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.) Percent of Appraised Total x Total Value = Apportioned Appraised Cost of Cost Acquisition Value Land $ 184,500 45% * 389 610 175,324 50 Land 61,500 15% * 389.610 improvements 58,441.50 Building 164,000 40% * 389.610 155,844.00 Totals S 410,000 100% 389,610.00 Required 1 Required 2 >