Rodriguez Company pays $345,000 for real estate plus $18,285 in closing costs. The real estate consists of land appraised at $202,500; land improvements appraised at $90,000; and a building appraised at $157,500.

Required information

Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.)

Journal Entry Worksheet

Record the costs of lump-sum purchase.

Transaction

General Journal

Debit

Credit

01