The following information is available for Blossom Corporation's pension plan for the year $2023$:

Plan assets, January $1,2023$

$$350,000$

Actual return on plan assets

Benefits paid to retirees

$17,000$

Contributions $($funding$)$

$42,100$

Discount rate

$94,300$

$10\%$

Defined benefit obligation, January $1,2023,$ accounting basis valuation $,501,000$

Service cost

$66,000$

$($a$)$

Your answer is partially correct.

Calculate defined benefit expense for the year $2023,$ assuming that Blossom follows IFRS.

Defined benefit expense $

and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

December $31,2023$

Defined Benefit Expense

Net Defined Benefit Liability or Asset

$($To record defined benefit expense$)$

December $31,2023$

Debit

Credit

Credit

Defined Benefit Expense

Cash

$($To record contributions to the pension fund$)$

The same for ASPE