Pension data for the Ben Franklin Company include the following for the current calendar year: Discount rate, 10% Expected return on plan assets, 12% Actual return on plan assets, 11% Service cost, $210,000 January 1: PBO ABO Plan assets Amortization of prior service cost Amortization of net gain December 31: Cash contributions to pension fund Benefit payments to retirees $1,410,000 1,010, eee 1,510,000 21, eee 4,100 $ 221, e8e 241, eee 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. Required 1 Required 2 Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.) Pension Expense View transaction list Journal entry worksheet 1 2 Record the pension expense for the year. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal