Rodriguez Company pays $370,000 for real estate plus $19,610 in closing costs. The real estate consists of land appraised at $230,000; land improvements appraised at $69,000; and a building appraised at $161,000. 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 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journa Debit Credit Record entry Clear entry View general journal