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The following information is available for the pension plan of Martinez Company for the year 2020. $ 15,100 Actual and expected return on plan assets
The following information is available for the pension plan of Martinez Company for the year 2020. $ 15,100 Actual and expected return on plan assets Benefits paid to retirees 41,500 Contributions (funding) 83,900 Interest/discount rate 10 % Prior service cost amortization 8,700 Projected benefit obligation, January 1, 2020 485,000 Service cost 57,700 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 Ofor the amounts.) Account Titles and Explanation Debit Credit Pension Expense Cash IN
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