Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $230,

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answerhappygod
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Rodriguez Company pays $379,080 for real estate with land, land improvements, and a building. Land is appraised at $230,

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Rodriguez Company pays $379,080 for real estate with land, land
improvements, and a building. Land is appraised at $230,000; land
improvements are appraised at $46,000; and the building is
appraised at $184,000.

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