1. Pension data for Southeast Financial Services, Inc. include the following:

Discount rate, 8%
Expected return on plan assets, 11%
Actual return on plan assets, 10%
Service cost, year1	$330
Janauary 1, year 1:
Projected benefit obligation	2448
Accumulated benefit obligation	2129
Plan assets (fair value)	2555
Prior service cost-AOCI(year1 amortization, $27)	346
Net gain --AOCI (year1 amortization, $6)	351
There were no changes in actuarial assumptions
December 31, year 1:
Cash contributions to pension fund, December 31, year1	261
Benefit payment to retirees, December 31, year 1	287

Required:

Determine pension expense for year 1.

Prepare all journal entries on December 31, year 1.