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NEED HELP ASAP Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $265,000; land improvements are

NEED HELP ASAP

Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $265,000; land improvements are appraised at $79,500; and a building is appraised at $185,500.

Required:

1.Allocate the total cost among the three assets.

2.Prepare the journal entry to record the purchase.

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