Exercise 8-3 Lump-sum purchase of plant assets LO CI Rodriguez Company pays $358,020 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land improvements are appraised at $54,000; and a building is appraised at $243,000. 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 Appraised Value x Total Cost of = Apportioned Acquisition Cost Land Land improvements Building Totals $ 0 0% $ 0.00 Exercise 8-3 Lump-sum purchase of plant assets LO CI Rodriguez Company pays $358,020 for real estate with land, land improvements, and a building. Land is appraised at $243, improvements are appraised at $54,000; and a building is appraised at $243,000. 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 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 Record entry Clear entry View general journal