Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $315,000 for real estate plus $16,695 in closing costs. The real estate consists of land appraised at $202,500; land improvements appraised at $67,500; and a building appraised at $180,000 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 Totalx Total Cost of Apportione Appraised Value Appraised Value Acquisition Cost Land Land improvements Building Totals $ 202,500 67,500 180,000 $450,000 0% 0.00