Rodriguez Company pays $375,000 for real estate plus $19,875 in closing costs. The real estate consists of land $211,500 land improvemen ts appraised at $70.500, and a building appraised at $188,000 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 1Required Prepare the journal entry to record the purchase. (Round your answers to 2 dedimal places.) View transaction list View journal entry worksheet No T General Journal Debit Credit Land Building Land improvements Cash