Rodriguez Company pays $394,875 for real estate with land, land improvements, and a bulding, Land is appraised at $265.000;land Improvements are appraised at $53,000, and a building is appraised at $212,000. 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 Required Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Percent of Appraised Total x Total Value Appraised Cost of Apportioned Value Acquisition Cost Land $ 265,000 50% * 394,875 Land 10% 394,875 Improvements Building 212.000 40% 394.875 Totals $1530.000 100% $ 0.00 53,000 Required Required 2 > Rodriguez Company pays $394,875 for real estate with land, and improvements, and a building, Land is appraised at $265,000; land improvements are appraised at $53.000, and a building is appraised at $212.000. 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 Required Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) Debit Credit View transaction list View journal entry worksheet No Transaction General Journal Land Land improvements Building Cash