Rodriguez Company pays $340,000 for real estate plus $18,020 in closing costs. The real estate consists of land appraised at $238,500; land improvements appraised at $79,500; and a building appraised at $212,000 Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Percent of Total Appraised Appraised Acquisition Percent of Total x Total Cost of Apportioned Cost Value Value Land Land improvements Building Totals $ 238,500 79,500 212,000 $530,000 0% | 0.00