h 08 Ex 8-3 1 Questio Saved @ 10 points eBook Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $342,225 for real estate with land, land improvements, and a building. Land is appraised at $211,500; lam Improvements are appraised at $70,500; and the building is appraised at $188,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Hint Ask Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost answers to 2 decimal places.) 14 Print Appraised Value Appraised Value Percent of Total Total Cost of -Apportioned Acquisition Cost Land $ 211,500 45% References Land improvements 70.500 15% Building 188.000 40% Totals $ 470,000 100% 0.00 Required 2 > Mc Graw Hill MacBook Pro 8 Ex 8-31 Book Hint Ask Print Saved Help Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $342,225 for real estate with land, land improvements, and a building. Land is appraised at $211,500; land improvements are appraised at $70,500; and the building is appraised at $188,000. 1. Allocate the total cost among the three 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 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list View journal entry worksheet No Transaction A 1 Land Ferences General Journal