Rodriguez Company pays for $310,000 for real estate plus $16,430 in closing costs. The real estate consist of land appraised at $260,000; land improvements appraised at $78,000; and a building appraised at $182,000. Allocate the total cost among the three purchased assets. Prepare the journal entry to record the purchase

Rodriguez Company pays $310,000 for real estate plus $16,430 in closing costs. The real estate consists of land appraised at $260.000; land improvements appraised at $78,000, and a building appraised at $182,000. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase. 7:48 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places) Appraised Value Percent of Total x Total Cost of Appraised Value Acquisition -Apportioned Cost Land Land improvements Building Totals Required 2