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On April 1 2 , 2 0 2 3 , Prism Ltd . , a camera lens manufacturer, paid cash of $ 5 5 2

On April 12,2023, Prism Ltd., a camera lens manufacturer, paid cash of $552,375 for real estate plus $29,400 cash in closing costs. The real estate included land appraised at $249,480; land improvements appraised at $83,160; and a building appraised at $261,360.
(a)(b)(c)
PPE Asset Appraised
Values Ratio of Individual Appraised Value to
Total Appraised Value
(a)-: Total Appraised Value Cost Allocation
(b)\times Total Actual Cost
Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)

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