Multiple Choice (2 points each) Please circle the correct answer. . Kris Jones Company is selling a piece of land adjacent to their business. An appraisal reported the market value of the land to be $120,000. The Focus Company initially offered to buy the land for $107,000. The companies settled on a purchase price of S115,000. On the same day, another piece of land on the same block sold for S122.000. Under the cost concept, what is the amount that will be use to stranioninthe ccounting reco? a. $107,000 b. $115,000 c $120,000 d. S122,000