Rodriguez Company pays $358,020 for real estate with land, land improvements, and a building. Land is appraised at $220,000; land improvements are appraised at $110,000; and the building is appraised at $220,000. 1. Allocate the total cost among the three 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 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.)