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 $66,000 of 6 percent bonds at 102 1/2 $ 67,650 Premium b. Bush, Inc. issued $81,000 of 10-year, 6 percent bonds at 98 1/2. Discount C. Oak, Inc. issued $188,000 of 20-year, 6 percent bonds at 102. Premium d. Willow Co. issued $157,000 of 15-year, 7 percent bonds at 97. $ 1,570 Discount