Question: Aguilera Co. established a defined contribution plan in which the company contributes (3 %) of full-time employees' salaries to a traditional (401(mathrm{k})) plan for each

Aguilera Co. established a defined contribution plan in which the company contributes $3 \%$ of full-time employees' salaries to a traditional $401(\mathrm{k})$ plan for each completed year of service. The amount of salaries eligible for the contribution totaled $\$ 150,000$ in 2020 . Record the entry for Aguilera Co. for the contribution to the plan, assuming $100 \%$ funding.

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