Module 3 Textbook Problem 6 Learning Objectives: 3-6 Using the straight-line method show how bonds issued at a discount affect financial statements 3-7 Using the straight-line method show how bonds issued at a premium affect financial statements Required For each of the following situations, calculate the amount of bond discount or premium, if any. (Do not round intermediate calculations.) a. Gray Co. issued $50,000 of 6 percent bonds at 102 1/2 Premium b. C. Bush, Inc. issued $85,000 of 10-year, 6 percent bonds at 96 1/2. Oak, Inc. issued $248,000 of 20-year, 6 percent bonds at 102. Discount Premium d. Willow Co. issued $184,000 of 15-year, 7 percent bonds at 96. Discount