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Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the Projected benefit obligation Balance, January 1 Service cost Interest cost

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Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the 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 5146,000,000 23,000,000 14,600,000 (10,000,000 5173,600,000 $38..000 10,800,000 21,800,000 19.900,000) $199,800,000 The expected long-term retum on plan assets is 10%. There were no other relevant data for the Required: 1. Determine Burrito's pension expense for the year. 2. Prepare the journal entries to record the pension expense and funding for the year Complete this question by entering your answers in the tabs below. Search Complete this question by entering your answers in the tabs below! Required 1 Required 2 Determine Burrito's pension expense for the year. (Enter your answers in deducted should be indicated with a minus sign.) ($ in millions) Pension Expense 0.00 Pension expense Journal entry worksheet 12 Record the pension expense for the year. Note: Enter debits before credits. Transaction General Journal

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