Rodriguez Company pays $375,000 for real estate plus $19,875 in closing costs. The real estate consists of land appraised at $260,000; land improvements appraised at $52,000; and a building appraised at $208,000. 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 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 $ 260,000 Land improvements Building Totals 52,000 208,000 520,000 $ 0% $ 0.00 Required 1 Required 2 > View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal