Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $342.225 for real estate with land, land improvements, and a building. Land is appraised at $180,000, land improvements are appraised at $60,000, and the building is appraised at $160,000. 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. Land Land improvements Building Totals Appraised Value Percent of Total Appraised Value Total Cost of Acquisition - Apportioned Cost $ 0 0% $ 0.00 Required 2 > Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $342.225 for real estate with land, land improvements, and a building Land is appraised at $180,000, land improvements are appraised at $60,000, and the building is appraised at $160,000 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 Prepare the journal entry to record the purchase. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet < Record the costs of lump-sum purchase. Note: Enter debits before credits Transaction General Journal Debit Credit 1