Baron Company adopted a defined benefit pension plan on January 1, 2015. The following information pertains to the pension plan for 2016 and 2017:

	2016	2017
Service cost	$150,000	$160,000
Projected benefit obligation (1/1)	112,500	271,500
Plan assets (1/1)	112,500	277,000
Company contribution (funded 12/31)	155,500	170,000
Discount rate	8%	8%
Expected long-term (and actual) rate of return on plan assets	8%	8%

There are no other components of Barons pension expense.

Required:

1.	Compute the amount of Barons pension expense for 2016 and 2017.
2.	Prepare the journal entries to record the pension expense for 2016 and 2017.