$\frac{6}{2}$ Purchased a small building to be used as a shop. The price was $$80,000$ : $$12,000$ paid with cash, the remaining balance was a $5$ year Note Payable in the amount of $$68,000.$ The purchase price of $$80,000$ was allocated to land in the amount of $$15,000$ and the remaining amount of $$65,000$ to the shop building. Loan payments are made quarterly; the first payment is due on $\frac{9}{2}\frac{?}{23}.$

Journal entry