The following are four independent situations.

a. On March 1, 2026, Wilke Co. issued at 103 plus accrued interest $4,000,000, 9% bonds. The bonds are dated January 1, 2026, and pay interest semiannually on July 1 and January 1. In addition, Wilke Co. incurred $27,000 of bond issuance costs. Compute the net amount of cash received by Wilke Co. as a result of the issuance of these bonds.

b. On January 1, 2025, Langley Co. issued 9% bonds with a face value of $700,000 for $656,992 to yield 10%. The bonds are dated January 1, 2025, and pay interest annually. What amount is reported for interest expense in 2025 related to these bonds, assuming that Langley used the effective-interest method for amortizing bond premium and discount?

c. Tweedie Building Co. has a number of long-term bonds outstanding at December 31, 2025. These long-term bonds have the following sinking fund requirements and maturities for the next 6 years.

Indicate how this information should be reported in the financial statements at December 31, 2025.

d. In the long-term debt structure of Beckford Inc., the following three bonds were reported: mortgage bonds payable $10,000,000; collateral trust bonds $5,000,000; bonds maturing in installments, secured by plant equipment $4,000,000. Determine the total amount, if any, of debenture bonds outstanding.

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2026 2027 2028 2029 2030 2031 Sinking Fund $300,000 100,000 100,000 200,000 200,000 200,000 Maturities $100,000 250,000 100,000 150,000 100,000