Question: please provide full explanation answer. On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $554,600 for real estate plus $29,700 cash

please provide full explanation answer. On April 12, 2020, Prism Ltd.,

a camera lens manufacturer, paid cash of $554,600 for real estate plus

please provide full explanation answer.

On April 12, 2020, Prism Ltd., a camera lens manufacturer, paid cash of $554,600 for real estate plus $29,700 cash in closing costs. The real estate included land appraised at $232,830: land improvements appraised at $65,670, and a building appraised at $298,500. (a) (b) Ratio of Individual Appraised Value to Total Appraised Value (a) Total Appraised Value Appraised Values PPE Asset (c) Cost Allocation (b) * Total Actual Cost Present the journal entry to record the purchase. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet

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