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Rodriguez Company pays $321,165 for real estate with land, land improvements, and a building. Land...

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Accounting

Rodriguez Company pays $321,165 for real estate with land, land improvements, and a building. Land is appraised at $211,500; land improvements are appraised at $47,000; and the building is appraised at $211,500. Allocate the total cost among the three assets. Prepare the journal entry to record the purchase

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