Q. The following information is providedregarding a company’s pension plan:
Service cost $640,000
Projected benefit obligation, Jan1 $4,500,000
Fair value plan assets, Jan1 $3,750,000
Amortization of unrecognized prior service cost for theyear $250,000
Interest cost 8%
Employer contribution to fund $845,000
Expected (and actual) return on planassets 10%
Required:
Prepare the December 31 journal entry to record pensionexpense
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