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Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land...

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Accounting

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Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land is appraised at $229,500; land improvements are appraised at $76,500; and a building is appraised at $204,000. Required: 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.) *** Debit Credit View transaction list View journal entry worksheet No Transaction General Journal Building Land Land improvements 158,739.75 52,913.25 141,102.00 352.755.00 Cash

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