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* Question 2 Martinez Company received the following selected information from its pension plan trustee concerning the operation of the companys defined benefit pension plan
* Question 2
Martinez Company received the following selected information from its pension plan trustee concerning the operation of the companys defined benefit pension plan for the year ended December 31, 2020.
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Determine the amounts of the components of pension expense that should be recognized by the company in 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).)
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Prepare the journal entry to record pension expense and the employers 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 0 for the amounts.)
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Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Martinez Company for the year 2020.
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