On April 12, 2020, Prism Ltd., a camera lens manufacturer, 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 the table below showing the allocation of the total cost among the three purchased assets and present the journal entry to record the purchase.?

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(b) Ratio of Individual Appraised Value to Total Appraised Value (a) : Total Appralsed Value (c) Cost Allocation (b) x Total Actual Cost (a) Appralsed PPE Asset Values