Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $321165 for real estate with land, land improvements, and a buiding, Land is appraised at $260,000; land improvements are appraised at $78,000, and a building is appraised at $182,000. 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 Total Cost of Acquisition Apportioned Cost Terences Land Land improvements Building Total Required 2 > Rodriguez Company pays $321165 for real estate with land, land improvements, and a building. Land is appraised at $260,000; land improvements are appraised at $78,000; and a building is appraised at $182,000, 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. Nota: Enter debits before credits Transaction General Journal Dobit Credit