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On January 1, Evangel Company issued 9% bonds in the face amount of $100,000, which ct Pattern:Famature in 5 years. The bonds were issued for $96,207 to yield 10%, resulting in a bond discount of $3,793. zing bond discount. Interest is payable annually on Evangel uses the effective interest method of amortiDecember 31.

What is the amount of interest expense that should be reported on Evangel’s income statement at the end of the first year?