Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and a building is appraised at $184,000.

Required:

1.Allocate the total cost among the three assets.

2.Prepare the journal entry to record the purchases

Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $207,000; land improvements are appraised at $69,000; and a building is appraised at $184,000. 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.) Land improvements Building 0.00 Required 2 > View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits