Question 23

The following information is available for the pension plan of Sunland Company for the year 2017.

Actual and expected return on plan assets		$ 13,800
Benefits paid to retirees		36,600
Contributions (funding)		88,000
Interest/discount rate		11	%
Prior service cost amortization		7,900
Projected benefit obligation, January 1, 2017		502,000
Service cost		59,000

Compute pension expense for the year 2017.

Pension expense for 2017		$

SHOW LIST OF ACCOUNTS

Prepare the journal entry to record pension expense and the employers contribution to the pension plan in 2017. (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.)

Account Titles and Explanation	Debit	Credit