Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $355,000 for real estate plus $18,815 in closing costs. The real estate consists of land appraised at $265,000, land improvements appraised at $106,000, and a building appraised at $159.000 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 Appraised Acquisition Value Percent of Total ofApportionesd Value Cost Land Land improvements Building