Rodriguez Company pays $375,000 for real estate plus $19,875 in closing costs. The real estate consists of land appraised at $245,000; land improvements appraised at $73,500; and a building appraised at $171,500. 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 x Total Cost of Acquisition - Apportioned Cost s Land Land improvements Building Total 245,000 73.500 171,500 490,000 40% 15% 45% 100% $ $ 0.00 Required 2 >