7. Pension data for Sam Adams Inc. include the following for the current calendar year Discount rate, 8% Expected return on plan assets, 10% Actual return on plan assets, 9% Service cost, $320,000 January 1 ??? ABO Plan assets Amortization of prior service cost Amortization of net gain December 31: Cash contributions to pension fund Benefit payments to retirees $2,920,000 920,000 3,120,000 22,000 6,200 267,000 302,000 Required: 1. Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.) Actual return Actual return on assets Amortization of net gain Amortization of net loss 2. Prepare the journal entries to record pension expense and funding for the year. (If no entry is required for a View transaction st