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Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land...

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Accounting

Rodriguez Company pays $400,140 for real estate with land, land improvements, and a building. Land is appraised at $234,000; land improvements are appraised at $104,000; and the building is appraised at $182,000. Allocate the total cost among the three assets. Prepare the journal entry to record the purchase

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