Pension data for the Ben Franklin Company include the following for the current calendar year: Discount rate, 6% Expected return on plan assets, 8% Actual return on plan assets, 7% Service cost, $160,000 Required: 1. Determine pension expense for the year. 2. Prepare the journal entries to record pension expense and funding for the year. Complete this question by entering your answers in the tabs below. Determine pension expense for the year. Note: Amounts to be deducted should be indicated with a minus sign. Prepare the journal entries to record pension expense and funding for the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits