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A city maintains a defined contribution pension plan to which it agrees to contribute 5% of employee wages. During the year, employees earned $4 million
A city maintains a defined contribution pension plan to which it agrees to contribute 5% of employee wages. During the year, employees earned $4 million in wages, but the government appropriated and contributed only $150,000 to the plan. The amount that the city should report as an expenditure in its general fund and as an expense in its government-wide statement is:
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