E19.1(LO 1,2)Excel (Pension Expense, Journal Entries) The following information is availablefor the pension plan of...

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E19.1(LO 1,2)Excel (Pension Expense, Journal Entries) The following information is availablefor the pension plan of Radcliffe Company for the year 2025.Actual and expected return on plan assetsBenefits paid to retireesContributions (funding)Interest/discount ratePrior service cost amortizationProjected benefit obligation, January 1,2025Service cost$ 15,00040,00090,00010%8,000500,00060,000Instructionsa. Compute pension expense for the year 2025.b. Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2025.

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