Farrell, Inc. purchased land for $96,000 by signing a noto payable for the same amount. Additionally, Farroll paid cash for the following: title insurance of $1.800, commission of $0,600, $4,800 to remove an unwanted building, $2,800 to level and grade the property, $20,000 for paving. $16,000 to construct a fence around the perimeter, and $6,200 for lighting. The Journal entry for the cash payment is: O A. debit land $107,400, debit land improvement $49,800, credit cash $167,200 O B. debit land $115,000, debit land improvement $42,200, credit cash $157,200 OC. debit land $19,000, debit land improvement $42,200, credit cash $61,200 OD. debit land $11,400, debit land improvement $49,800, credit cash $61,200