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Merciful Industries has a beginning PBO balance of $700,000 and a settlement rate of 8%. As a result of an amendment to the current union

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Merciful Industries has a beginning PBO balance of $700,000 and a settlement rate of 8%. As a result of an amendment to the current union contract, there are prior service costs of $32,000. What is the journal entry to record interest expense on the pension obligation

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