Accounting Help?

June 16: Byte purchased a 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 at $19,000. The balance of the cost is to be allocated to 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.

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.

I need to help with both of these adjusting entries.

For the first one I have:

Jun 16 Land (debit) 17,000.00

Jun 16 Building Cost (debit) 90,000.00

Jun 16 Cash (credit) 10,700.00

Jun 16 Mortgage Payable (credit) 96,300.00

For the second one I have the accounts but can't figure out the debit and credit costs:

Jun 16 Interest Expense x

Jun 16 Interest Payable x

How do I find the amounts for Interest expense and Interest payable?

Thank You for the help.