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need help on part (b) please? Sandhill, Inc, received the following information from its pension plan trustee concerning the operation of the company's definedbenefit pension
need help on part (b) please?
Sandhill, Inc, received the following information from its pension plan trustee concerning the operation of the company's definedbenefit pension plan for the year ended December 31,2026: The service cost component for 2026 is $145,000 and the amortization of prior service costs is $245,000. The company's actual funding of the plan in 2026 amounted to $510,000. The expected return on plan assets and the settlement rate were both 9%. (a) Determine the pension expense to be reported in 2026. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2026. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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