Help Save Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $315,000 for real estate plus $16,695 in closing costs. The real estate consists of land appraised at $235,000; land improvements appraised at $70,500; and a building appraised at $164,500. 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. Allocate the total cost among the three purchased assets. (Round your Apportioned Cost" answers to 2 decimal places.) Percent of Total x Total Cost of Appraised alue Value Cost x 331.69s x 331.695 x331,695 $ 235,000 70,500 164,500 470,000 45% 0.00 Required 2