On April 12, 2014, Prism Resources paid cash of $552,375 for real estate plus $29,400 cash in closing costs. The real estate included: land appraised at $249,480; land improvements appraised at $83,160; and a building appraised at $261,360. Prepare a calculation similar to QS 10-3 showing the allocation of the total cost among the three purchased assets and present the journal entry to record the purchase.