Please help me figure out if I did this right. Step by step please.

The annual interest rate on the mortgage payable was 8.75 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16.

I am not sure if it relates to some of the other transactions I have done, especially these two:

June 16: A check in the amount of 7,250 was received for consulting revenue.

June 16: Byte purchase the building and the land it is on for $119,000 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued as $19,000. The balance of the cost is to be allocated through the building. Byte made a cash down payment of $11,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1.

This is my answer

Jun 30 |Interest Expense| Accum. Interest Motgage Note| Debit 390.47

Jun 30 |Interest Payable| Accum. Interest Mortgage Note| Credit 390.47