On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $567,800 for real estate plus $30,800 cash in closing costs. The real estate included land appraised at $170,240; land improvements appraised at $79,040; and a building appraised at $358,720.

On April 12, 2020, Prism Ltd., a camera lens manufacturer, pald cash of $567,800 for real estate plus $30,800 cash In closing costs. The real estate included land appraised at $170,240; land Improvements appraised at $79,040, and a building appraised at $358,720. (a) (b) Ratio of Individual Appraised value to Total Appraised Value (a) - Total Appraised Value Appraised Values (c) Cost Allocation (b) * Total Actual Cost PPE Asset Present the journal entry to record the purchase. (Do not round Intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Date General Journal Debit Credit April 12. 2020