Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $238,500; land improvements are appraised at $79,500; and a building is appraised at $212,000. 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 "x Total Cost of Appraised Value Acquisition = Apportioned Cost Land Land improvements Building Totals 0% $ 0.00 Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journa Debit Credit Record entry Clear entry View general journal