Business, 11.11.2020 17:50 nnamdi

Rodriguez Company pays $342,225 for real estate with land, land improvements, and a building. Land is appraised at $250,000; land improvements are appraised at $75,000; and a building is appraised at $175,000. Required:
a. Allocate the total cost among the three assets.
b. Prepare the journal entry to record the purchase.

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Rodriguez Company pays $342,225 for real estate with land, land improvements, and a building. Land i...

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