1. Measuring and recording pension expense. Presented below is information related to Jones Department Stores, Inc. pension plan for 2018. Accumulated benefit obligation (at year-end} $600,000Service cost 590,000Funding contribution for 2018 510,000Settlement rate used in actuarial computation 10%Expected return on plan assets 9%Amortization of PEG (due to benefit increase) 100,000Amortization of net gains 48,000Projected benefit obligation (at beginning of period) 420,000Fair 1value of plan assets (at beginning of period) 360,000Instructions (a) Compute the amount of pension expense to be reported for 2018. (Show computations.) (b) Prepare the journal entry to record pension expense and the employer's contribution for2018