Rodriguez Company pays $389,610 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. X Answer is complete but not entirely correct. 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" ans ers to 2 decimal places.) Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost $ 238,500 61% X * 389,610 $ 237,662.10 X 27% X * 389,610 105,194.70 X Land Land improvements Building Totals 106,000 185,500 530,000 48% x * 389,610 187,012.80 X 529,869.60 $ 136% $ Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $389,610 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) No Transaction General Journal Debit Credit 1 Land 237,662.10 X 105,194.70 x Land improvements 187,012.80 x Building Cash 389,610.00