Question: Exercise 8 - 3 ( Algo ) Lump - sum purchase of plant assets LO C 1 Rodriguez Company pays $ 3 8 4 ,

Exercise 8-3(Algo) Lump-sum purchase of plant assets LO C1Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is appraised at $172,000; land improvements are appraised at $86,000; and the building is appraised at $172,000.Allocate the total cost among the three assets.Prepare the journal entry to record the purchase.

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