June 16:Byte purchased a building and the land it is on for $107,000, to house its repair facilities and to store computer equipment.The lot on which the building is located is valued at $17,000. The balance of the cost is to be allocated to the building.Byte made a cash down payment of $10,700and executed a mortgage for the balance.The mortgage is payable in eight equal annual installments beginning July 1.

1411 Building Cost 90,000.00

1510 Land 17,000.00

1110 Cash 10,700.00

2201 Mortgage Payable 96,300.00

(This is were I need help)

29. The annualinterest rate on the mortgage payable was 9.00 percent.Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16.