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Business, 16.04.2020 03:05 nyceastcoast

Rodriguez Company pays $358,020 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: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

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