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Marley Co. has an underfunded prepaid/accrued pension cost of $2,000 (debit balance) at December 31, 2014. The following information pertains to 2015: Pension expense $320,000
Marley Co. has an underfunded prepaid/accrued pension cost of $2,000 (debit balance) at December 31, 2014. The following information pertains to 2015:
| Pension expense | $320,000 |
| Projected benefit obligation, December 31, 2015 | 840,000 |
| Contributions | 330,000 |
| Plan assets (fair value), December 31, 2015 | 810,000 |
Refer to Exhibit 19-1. The balance in Prepaid/Accrued Pension Cost at December 31, 2015, should be
| a. | $30,000 debit |
| b. | $30,000 credit |
| c. | $8,000 credit |
| d. | $10,000 credit |
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