Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $192,000; land improvements are appraised at $72,000; and a building is appraised at $216,000. Required: 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.)

	Appraised Value	Percent of Total Appraised Value	x Total Cost of Acquisition	= Apportioned Cost
Land
Land improvements
Building
Totals		0%		$0.00