The following information is available for the pension plan of Radcliffe Company for the year 2019.

Interest revenue on plan assets..........................................$ 15,000

Benefits paid to retirees...........................................................40,000

Contributions (funding)............................................................90,000

Discount (interest) rate.................................................................10%

Defined benefit obligation, January 1, 2019........................500,000

Service cost...............................................................................60,000

Instructions

a. Compute pension expense for the year 2019.

b. Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2019.