Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $345,000 for real estate plus $18,285 in closing costs. The real estate consists of land appraised at $184,500; land improvements appraised at $61,500; and a building appraised at $164,000 Required: 1. Allocate the total cost among the three purchased 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 purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Percent of Tota Appraised Value x Total Cost of Apportioned Appraised Value Acquisition Cost Land Land improvements Building Totals $ 184,500 61,500 164,000 $ 410,000 0% 0.00