Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $325,000 for real estate plus $17,225 in closing costs. The real estate consists of land appraised at $192,000; land improvements appraised at $96,000; and a building appraised at $192,000. 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.) Appraised Value Percent of Total Appraised x Total Cost of = Apportioned Value Acquisition Cost Land Land improvements Building Totals Required 1 Required 2 > $192,000; land improvements appraised at $96,000, and a building appraised at $192,000. 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 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal