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On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $564,200 for real estate plus $30,500 cash in closing costs. The real

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On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $564,200 for real estate plus $30,500 cash in closing costs. The real estate included land appraised at $187,550, land improvements appraised at $96,800; and a building appraised at $320,650. Appraised Values (b) Ratio of Individual Appraised value to Total Appraised Value (a) - Total Appraised Value PPE Asset Cost Allocation (b) Total Actual Cost Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest s whole dollar.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter dobits before credits Debit Credit Date April 12. 2020 General Journal Land Land improvements Building Cash + Cinar entry View general journal Record entry

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