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Rodriguez Company pays $368,550 for real estate with land, land improvements, and a building. Land...

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Accounting

Rodriguez Company pays $368,550 for real estate with land, land improvements, and a building. Land is appraised at $270,000; land improvements are appraised at $81,000; and the building is appraised at $189,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchas

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