What are the adjusting journal entries for each month (june, september, december, march) ?

Purchased a parcel of land on March 1, 2019 for $650,000 by paying $425,000 in cash and signing a short-term note payable with the seller for $225,000. You must repay the $225,000 in exactly one year on March 1, 2020. You agree to pay the seller 4.5 percent interest (annual rate) on a quarterly basis (June 1, September 1, December 1, 2019, and March 1, 2020).

June 2019

Interest Expense $ 2,531.25 (debit)

Bank $ 2,531.25 (credit)

September 2019

Interest Expense $ 2,531.25 (debit)

Bank $ 2,531.25 (credit)

December 2019

Interest Expense $ 2,531.25 (debit)

Bank $ 2,531.25 (credit)

March 2020

Interest Expense $ 2,531.25 (debit)

Bank $ 2,531.25 (credit)

Explanation:

For each Month, Recognise an Expense - Interest and Also de-recognise the Asset - Cash as interest is being paid.

Interest Expense Calculation = 3/12*$225,000*4.5%

= $ 2,531.25