Kingbird Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2017 and 2018 2017 $838,800 840,000 2018 $1,018,800 960,000 Plan assets (fair value), December 31 Projected benefit obligation, January 1 Pension asset/liability, January 1 Prior service cost, January 1 Service cost Actual and expected return on plan assets Amortization of prior service cost Contributions (funding) Accumulated benefit obligation, December 31 Interest/settlement rate 168,000 Cr 300,000 72,000 28,800 12,000 138,000 600,000 288,000 108,000 36,000 14,400 144,000 660,000 8% 8% Compute pension expense for 2017 and 2018 Pension expense for 2017 Pension expense for 2018 NK TO TEX LINK TO TEXT Prepare the journal entries to record the pension expense and the company's funding of the pension plan for both years. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017