Rodriquez Company pays $375,000 for real estate plus $19,875 in closing costs. The real estate consists of land appraised at $225,000; land improvements appraised at $100,000; and a bullding appraised at $175,000. Required: 1. Allocate the total cost among the three purchased 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 purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Percent of Total Appraised Value Appraised Value * Total Cost of Total Acquisition Apportioned Cost Land Land improvements Building Totals 0.00 $ 0% 0 Required 2 >