Rodriguez Company pays $360,000 for real estate plus $19,080 in closing costs. The real estate consists of land appraised at $200,000; land improvements appraised at $100,000; and a building appraised at $200,000. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase

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 0% 0.00 Journal entry worksheet