Exercise 8-3 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 $235,000; land improvements are appraised at $94.000; and a building is appraised at $141,000. Required: 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 X Total Cost of Acquisition - Apportioned Cost Land Land improvements Building Totals Required 2 > Rodriguez Company pays $326,430 for real estate with land, land improvements, and a building. Land is appraised at $235,000; land improvements are appraised at $94.000; and a building is appraised at $141.000. Required: 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. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet A Record the costs of lump-sum purchase. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal