The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net lossAOCI on January 1, 2018. Required: 1. Determine Abbott and Abbotts pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbotts pension expense, funding, and payment for 2018.

Abbott and bbott has a noncontributr efined'benetit pension plan. At December 31, 2018, Abbott and Abbott received the following information: ($ in Obligation illions ) Projected Balance, January 1 Service cost enefi $120 31 Interest cost 12 Benefits paid (9) $154 Balance, December 31 Plan Assets Balance, January 1 Actual return on S90 plan assets 12 Contributions 2018 31 Benefits paid (9) $124 Balance, December 31