Scruggs, Inc. provides the following selected information related to its defined benefit pension plan for 2025. Pension Asset/Liability(January 1) $25,000 Credit Accumulated benefit obligation (December 31) 400,000 Actual and expected return on plan assets 10,000 Contribution funding in 2025 150,000 Fair value of plan assets (December 31) 800,000 Projected benefit obligation (January 1) 700,000 Service Cost 80,000 Interest/Settlement Rate 10% Prior Service Cost amortization 7,000 Accumulated OCI( Prior Service Cost) 125,000 Using the above information prepare the journal entry to record the 2025 pension expense.