Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $92,000, and a building is appraised at $161,000. 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 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 Cont of Acquisition Apportioned Cost $ Land Land improvements Building Total 207.000 92.000 161.000 460.000 x 363,285 x 363,285 363.295 5 0% S 0.00 Required 2 > Rodriguez Company pays $363.285 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $92,000, and a building is appraised at $161000. 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 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places WA Journal entry worksheet Record the costs of lump-sum purchase che General Journal De cred 1