Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $325,000 for real estate plus $17.225 in closing costs. The real estate consists of land appraised at $184.500; land improvements appraised at $41.000; and a building appraised at $184.500. 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 Value Percent of Total x Total Cost of Appraised Value Acquisition = Apportioned Cost Land Land improvements Building Totals Regard 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 Record the costs of lump-sum purchase. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal