Compute the cash proceeds from bond issues under the following terms. For each case, indicate whether the bonds sold at a premium or discount:
a. Spring, Inc., issued $300,000 of 10-year, 8 percent bonds at 103.
b. Valley, Inc., issued $100,000 of five-year, 12 percent bonds at 97 ½.
c. River Co. issued $200,000 of five-year, 6 percent bonds at 102 ¼.
d. Snow, Inc., issued $80,000 of four-year, 8 percent bonds at 96.