You can run this dryer on 120 volts, but you wired it incorrectly. To wire it correctly connect the black lead of your 120 volt cord to L-1 on the dryer [ the black lead is the one that connects to the smaller rectangular opening in a standard 120 volt grounded outlet ]

Step 2 move the L-2 wire on the dryers terminal block to the center neutral position, as you do this remove the center grounding strap that goes from the center post to the mounting bracket that the terminal block is screwed to. then attach the white wire from the cord to this center position and tighten.

Step 3 attach the green ground wire from your 120 volt cord to the screw where the grounding strap was attached to the mounting bracket where the terminal block is attached.

Notes, use a good quality cord of at least 14 ga wire [ 12 ga is better ] the dryer should also be run alone on a separate circuit of at least 15 amp, but again a 12 ga 20 amp circuit would be much better if you want to use the dryer much.

Properly set up you can use this dryer for years on 120 volts, it will use about 14% less total energy to dry the same load of clothing and will be much safer in operation than using an older 240 volt electric dryer that lacks the additional safety features and lower temperature operation of newer dryers.

Whether this dryer is operated on 120 or 240 volts it is operating on single phase power, there is no such thing as 2 phase power in the US.