QS 8-3 (Static) Lump-sum purchase of assets LO C1 Diego Company paid $80,000 cash to acquire a group of ltems conshting of land appraised at $50,000 and a beilding appraised at $150,000. Allocate total cost to these two assets and prepare an entry to record the purchase: Complete this question by entering your answers in the tabs below. Alocate total cost to these two assets