Data pertaining to the postretirement health care benefit plan of Sterling Properties include the following for $2024$ :

Service cost

$($$ in thousands$)$

$$124$

Accumulated postretirement benefit obligation, January $1$

$700$

Plan assets $($fair value$),$ January $1$

$50$

Prior service cost$-$AOCI

Net gain$-$AOCI $(2024$ amortization, $$1)$

none

Retiree benefits paid $($end of year$)$

Contribution to health care benefit fund $($end of year$)$

$91$

Discount rate, $7\%$

Return on plan assets $($actual and expected$),10\%$

Required:

Determine the postretirement benefit expense for $2024.$

Prepare the appropriate journal entries to record the $($a$)$ postretirement benefit expense, $($b$)$ funding, and $($c$)$ retiree benefits for

Complete this question by entering your answers in the tabs below.

Required $1$

Determine the postretirement benefit expense for $2024.$

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands $($i$.$e$.,10,000$ should be

entered as $10).$