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Rodriguez Company pays $ 3 7 3 , 8 1 5 for real estate with land, land improvements, and a building. Land is appraised at

Rodriguez Company pays $

373, 815

for real estate with land, land improvements, and a building. Land is appraised at $

180, 000

; land improvements are appraised at $

40, 000

; and the building is appraised at $

180, 000 .

Allocate the total cost among the three assets.

Prepare the journal entry to record the purchase.

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