Exercise 19-1 Oriole Limited provides a defined contribution pension plan for its employees. The plan requires the company to deduct 5% of each employee's gross pay for each payroll period as the employee contribution. The company then contributes 8% of the gross pay for the employer contribution. Both amounts are remitted to the pension trustee within 10 days of the end of each month for the previous month's payrolls. At November 30, 2017, Oriole reported $29,500 of combined withheld and matched contributions owing to the trustee. During December, Oriole reported gross salaries and wages expense of $246,800. Prepare the entry to record the December payment to the plan trustee. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit December 10, 2017 What amount of pension expense will the company report for December 2017? Pension expense to be reported $ Determine the appropriate pension account and its balance to be reported on the December 31, 2017 statement of financial position. Oriole Limited Statement of Financial Position