Question: Dylan King retired on December 31, 2011. She will be paid a pension of $10,000 in 2012. The journal entry for the 2012 payment is:

Dylan King retired on December 31, 2011. She will be paid a pension of $10,000 in 2012. The journal entry for the 2012 payment is:

Dr. . . . . . . . . . . . . . . . . . 10,000 Cr. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000

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