Business, 17.04.2020 00:24, gabbymcdermid

Rodriguez Company pays $335,000 for real estate plus $17,755 in closing costs. The real estate consists of land appraised at $204,000; land improvements appraised at $51,000; and a building appraised at $255,000. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase

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Rodriguez Company pays $335,000 for real estate plus $17,755 in closing costs. The real estate consi...