Business
Business, 17.07.2020 20:01, jadajohnson14

Rodriguez Company pays $310,000 for real estate plus $16,430 in closing costs. The real estate consists of land appraised at $215,000; land improvements appraised at $86,000; and a building appraised at $129,000.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 $310,000 for real estate plus $16,430 in closing costs. The real estate consi...

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