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The following information is available for the pension plan of Nash Company for the year 2020. Actual and expected return on plan assets $ 14,700

The following information is available for the pension plan of Nash Company for the year 2020.
Actual and expected return on plan assets
$ 14,700
Benefits paid to retirees
40,800
Contributions (funding)
90,300
Interest/discount rate
10%
Prior service cost amortization
8,000
Projected benefit obligation, January 1, 2020
523,000
Service cost
54,600




Compute pension expense for the year 2020.
Pension expense for 2020
$enter pension expense for 2017 in dollars



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Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation

Debit

Credit

enter an account title


enter a debit amount


enter a credit amount


enter an account title


enter a debit amount


enter a credit amount


enter an account title


enter a debit amount


enter a credit amount


enter an account title


enter a debit amount


enter a credit amount


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