Details please, support your numbers.

Measuring and recording pension expense. Kessler, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2015: January 1, 2015 December 31, 2015 Projected benefit obligation $2, 500,000 $2, 850,000 Fair value of plan assets 1, 250,000 1, 600,000 Accumulated benefit obligation 1, 930,000 2, 620,000 Accumulated OCI-(PSC) 540,000 300,000 The service cost component for 2015 is $140,000 and the amortization of prior service cost is $240,000. The company's actual funding of the plan in 2015 amounted to $500,000. The expected return on plan assets and the settlement rate were both 8%. Instructions Determine the pension expense to be reported in 2015. Prepare the journal entries to record the pension expense and employers' 2015 contribution