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Exercise 17-10 (Algo) Determine pension expense (LO17-6, 17-7] Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2021, Abbott and Abbott received the following information: ($ in millions) $100 Projected Benefit Obligation Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 11 (10) $100 13 Plan Assets Balance, January 1 Actual return on plan assets Contributions 2021 Benefits paid Balance, December 31 (10) The expected long-term rate of return on plan assets was 11%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2021. Required: 1. Determine Abbott and Abbott's pension expense for 2021. 2. Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2021. Pension expense million Required 1 Required 2 > Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet