required 2:

Record the pension expenses

Record the funding of plan assets

Record the payment of benefits

Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott and Abbott received the following information: Projected Benefit Obligation millions) Balance, January 1 $100 Service cost 21 Interest cost 10 Benefits paid Balance, December 31 $121 (20) $ 80 10 ces Plan Asseta Balance, January 1 Actual return on plan assets Contributions 2018 Benefits paid Balance, December 31 21 (10) $101 The expected long term rate of return on plan assets was 10%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2018 Required: 1. Determine Abbott and Abbott's pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018 Complete this question by entering your answers in the tabs below. Required Required 2 Determine Abbott and Abbott's pension expense for 2018. Pension expense million Required Required 2 >