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Question 17 The following information is available for the pension plan of Teal Company for the year 2020. Actual and expected return on plan assets
Question 17 The following information is available for the pension plan of Teal Company for the year 2020. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2020 Service cost $ 15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2020. Pension expense for 2020 Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit AL:___
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