Rodriguez Company pays $394,875 for real estate with land, land improvements, and a building, Land is appraised at $243,000; land Improvements are appraised at $54,000; and a building is appraised at $243,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 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 50% X Total Cost of Acquisition Apportioned Cost $ 243,000 * 394,875 54,000 25% 394,875 Land Land improvements Building Totals 243,000 45% X 394,875 $540,000 120% S 0.00