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Rodriguez Company pays $373,815 for real estate with land, land improvements, and a building. Land is appraised at $238,500; land improvements are appraised at $106,000;
Rodriguez Company pays $373,815 for real estate with land, land improvements, and a building. Land is appraised at $238,500; land improvements are appraised at $106,000; and the building is appraised at $185,500. 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 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Land Land improvements Building Totals Appraised Value Percent of Total Appraised Value Total Cost of Acquisition = Apportioned Cost $ 0 0% Required 1 $ 0.00 Required 2 > 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 A Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction 1 General Journali Debit Credit Record entry Clear entry View general journal
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