Exercise 10-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building, Land is appraised at $157,040; land improvements are appraised at $58,890; and a building is appraised at $176,670. Required: 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. Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost Land Land improvements Building Totals S 0 0% $ 0 ( Required 1 Required 2 > Exercise 10-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $395,380 for real estate with land, land improvements, and a building. Land is appraised at $157,040, land Improvements are appraised at $58,890; and a building is appraised at $176,670. Required: 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 Prepare the journal ently to record the purchase. View transaction list Journal entry worksheet KA Record the costs of lump-sum purchase. Note: Enter debits before credits Transaction General Journal Debit Credit