32. Measuring and recording pension expense. Kessler, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2017: Projected benefit obligation Fair value of plan assets Accumulated benefit obligation Accumulated OCI-(PSC) January 1, 2017 $2,500,000 1,250,000 1,930,000 540,000 December 31.2017 $2,850,000 1,600,000 2,620,000 300,000 The service cost component for 2015 is $140,000 and the amortization of prior service cost is $240,000. The company's actual funding of the plan in 2015 amounted to $500,000. The expected return on plan assets and the settlement rate were both 8%. Instructions (a) Determine the pension expense to be reported in 2017. (b) Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2017 110%