Question
Sotherlin Inc. has a defined contribution plan. It has agreed to pay $210,000 now at the end of 20X4 and another payment of $135,000 at
Sotherlin Inc. has a defined contribution plan. It has agreed to pay $210,000 now at the end of 20X4 and another payment of $135,000 at the end of 20X6 for employees services for 20X4. The current interest rate is 5%.
Required: Prepare the journal entry for the pension expense for 20X4. Please feel free to enter your answer(s) in the template below:
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Modern Internal Auditing An Operational Approach
Authors: Victor Zinn Brink
3rd Edition
0471065242, 978-0471065241
