Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company poys $326,430 for real estate whth land, land improvements, and a buliding Land is appralsed at $247,500; land improvements are appreised at $82,500 : and the building is appraised at 5220,000 . 1. Allocate the 1ota1 cost among the three assets. 2. Prepare the jouenal entry to record the purchase. Complete this question by entering your answers in the tabs below. Alocate the total cost among the three arseth. (Round your "Apportioned Cost" answers to 2 dedimal places) Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $247,500; land improvements are appraised at $82,500; and the bullding is appraised at $220,000. 1. Allocate the total cost among the three assets. 2. Prepare the joumal entry to record the purchase. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) Journal entry worksheet