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At the end of the current year, Eastern Electric received the following information from its actuarial firm. Pension expense $3,000,000 Postretirement benefits expense 750,000 The
At the end of the current year, Eastern Electric received the following information from its actuarial firm. Pension expense $3,000,000 Postretirement benefits expense 750,000 The pension plan is fully funded. Eastern Electric has funded only 40 percent of the nonpension postretirement benet this year. a-b. Record pension expense and nonpension postretirement benet expenses for the entire year. (If no entry is required for a transaction/event, select "No journal entry required" in the rst account field.) View transaction list Journal entry worksheet Record the payments to a fully funded pension plan. Note: Enter debits before credits. Journal entry worksheet
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