On $12/31/2023,$ B Company isued bonds payable with face value of $$100,000$ and a coupon rate of $12\%,$ receiving $$112,462$ in exchange. The bonds were dated $12/31/2023,$ pay interest each $6/30$ and $12/31,$ and mature on $12/31/2033.$They were sold to yield $10\%.$ Bs$\text{'}$ accounting year ends each $12/31.$ With respect ot these bonds, what interest expense should be reported for the year ending $12/31/2024,$ and what liability should be shown on hte $12/31/2024$ balance sheet?

The answer is expense$-$ $$11,227$ and liability$-$$$111,689.$ Can you show me calculations?