Question: Rodriguez Company pays $321,165 for real estate with land, land improvements, and a building. Land is appraised at $210,000; land improvements are appraised at $63,000;

Rodriguez Company pays $321,165 for real estate with land, land improvements, and a building. Land is appraised at $210,000; land improvements are appraised at $63,000; and the building is appraised at $147,000.

Allocate the total cost among the three assets.
Prepare the journal entry to record the purchase.

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Rodriguez Company pays $321,165 for real estate with land, land improvements,

and a building. Land is appraised at $210,000; land improvements are appraised

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