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Harrison Forklift's pension expense includes a service cost of $18 million. Harrison began the year with a pension liability of $44 million (underfunded pension
Harrison Forklift's pension expense includes a service cost of $18 million. Harrison began the year with a pension liability of $44 million (underfunded pension plan). ($ in millions) 1. Interest cost, $6; expected return on assets, $12; amortization of net loss, $4. 2. Interest cost, $14; expected return on assets, $10; amortization of net gain, $4. 3. Interest cost, $14; expected return on assets, $10; amortization of net loss, $4; amortization of prior service cost, $5. Required: Prepare the appropriate general journal entries to record Harrison's pension expense in each of the following independent situations regarding the other (non-service cost) components of pension expense. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet < 1 2 3 Prepare the appropriate journal entry to record pension expense in situation 1. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit >
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