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The Peanut Company has a defined benefit pension plan for its employees. The following information pertains to the pension plan: Projected benefit obligation, December 31,

The Peanut Company has a defined benefit pension plan for its employees. The following information pertains to the pension plan:

Projected benefit obligation, December 31, 2014 $1,680,000 Fair value of plan assets, December 31, 20141, 739,000 Accrued/prepaid pension cost (asset), December 31, 2013 51,300

The December 31, 2014 adjusting journal entries include a

Answer: debit to Accrued/Prepaid Pension Cost for $7,700

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