On June 1, Rosio Inc. pays $331,695 for land, land improvements, and a building . The land is appraised at $ 220,000, land improvements are appraised at $ 66,000 , and the building is appraised at $154,000

Calculate the cost that should be allocated to the

a. Land

b. Land improvements

c. Building

2.Record the journal entry for the purchase of the land, land improvements, and the building.