Rodriguez Company pays $325,000 for real estate plus $17,225 in closing costs. The real estate consists of land appraised at $265,000; land improvements appraised at $79,500; and a building appraised at $185,500.

Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.)

	Appraised Value	Percent of Total Appraised Value	x Total Cost of Acquisition	= Apportioned Cost
Land
Land improvements
Building
Totals

• Record the costs of lump-sum purchase.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1