Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the current calen $148,000,000 24,000,000 17,760,000 (11,000,000) $178,760,000 Projected benefit obligation Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets Balance, January 1 Actual return on plan assets Contribution Benefits paid Balance, December 31 $ 89,000,000 12,680,000 22,000,000 (11,000,000) $112,680,000 The expected long-term return on plan assets is 12%. There were no other relevant data for the year. Required: 1. Determine Burrito's pension expense for the year. 2. Prepare the journal entries to record the pension expense and funding for the year. Required: 1. Determine Burrito's pension expense for the year. 2. Prepare the journal entries to record the pension expense and fu Complete this question by entering your answers in the tabs Required 1 Required 2 Determine Burrito's pension expense for the year. (Enter your answer deducted should be indicated with a minus sign.) Pension Expense ($ in millions) Service cost $ 24.00 Interest cost 17.76 Expected return 10.68 X Pension expense $ 52.44 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the pension expense and funding for the year. (Enter your answers in millions rounded to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit 1 1 Pension expense 52.44 X 52.44 2 2 Cash 22.00 22.00