Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO Rodriguez Company pays $368,550 for real estate with land, land improvements, and a building, Land is appraised at $270,000; land improvements are appraised at $54,000, and the building is appraised at $216,000. 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. (Round your "Apportioned Cost answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value * Total Cost of Acquisition Apportioned Cost Land Land improvements Building Totals 2 View transaction list Journal entry worksheet Book