Niagara Inns provides a modest defined benefit pension for its employees. At the end of the current

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Niagara Inns provides a modest defined benefit pension for its employees. At the end of the current fiscal year, which ended on December 31, the pension plan supplied Niagara with information about the pension, which is summarized in the following tables:

The company did not have any past service costs.


Required:

Provide the journal entries for Niagara’s pension plan for the year.

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