Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building, Land is appraised at $193,500; and Improvements are appraised at $64,500; and a building is appraised at $172,000. 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. Lequired 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 0.00 $ 0 $ 0% Required Required 2 > 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