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  3. 3. the following information is available for the

3. The following information is available for the pension plan of Seneca Company for the...

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Accounting

3. The following information is available for the pension plan of Seneca Company for the year 2015: Interest revenue on plan assets $ 36,000 Benefits paid to retirees 68,000 Contributions (funding) 84,300 Discount (interest) rate 8% Defined benefit obligation, January 1, 2015 872,000 Service cost 74,500 Instructions: (a) Compute pension expense for the year 2015. (b) Prepare the journal entry to record pension expense and the employers contribution to the pension plan in 2015.

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