Create a journal entry for this transaction.

June 16: Byte purchased a building and the land it is on for $95,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $15,000. The 10.balance of the cost is to be allocated to the building. Byte made a cash down payment of $9,500 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1