P14-14 (Comprehensive Problem: Issuance, Classification, Reporting) Presented below are three inde- pendent situations. Instructions (a) On January 1, 2015, Langley Co. issued 9% bonds with a face value of $700,000 for $656,992 to yield 10%. The bonds are dated January 1, 2015, and pay interest annually. What amount is reported for interest expense in 2015 related to these bonds? (b) Tweedie Building Co. has a number of long-term bonds outstanding at December 31, 2015. These long-term bonds have the following sinking fund requirements and maturities for the next 6 years. Sinking Fund Maturities 2016 $300,000 $100,000 2017 100,000 250.000 2018 100,000 100,000 2019 200,000 2020 200,000 150,000 2021 200,000 100,000 Indicate how this information should be reported in the financial statements at December 31, 2015. (c) 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