June 16th: Byte purchased a building and the land it is on for $131,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $21,000. The balance of the cost is to be allocated to building. Byte made a cash down a cash down payment of $13,100 and executed a mortgage for the balance. The mortgage is payable in eight equal annaul installments beginning July 1st.

The annual interest rate on the mortgage payable was 7.75 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on june 16.

How do you do this problem and put it down as an entry in the general journal?