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Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott...

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Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott and Abbott received the following information: Balance, January 1 Service cost Interest cost Benefits paid 150 28 18 ed Balance, December 31 $185 Plan Assets Balance, January 1 Actual return on plan assets Contributions 2018 Benefits paid $100 14 28 nces Balance, December 31 $131 The expected long-term rate of return on plan assets was 12%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2018 Required 1. Determine Abbott and Abbott's pension expense for 2018 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018 Complete this question by entering your answers in the tabs below. Required 1 Required 2

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