Rodriguez Company pays $350,000 for real estate plus $18,550 in closing costs. The real estate consists of land appraised at $255,000, land improvements appraised at $51,000, and a building appraised at $204,000. 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.) Appraised Value Percent of Total Appraised Value * Total Cost of Acquisition Apportioned Cost Land