Abbott and Abbott has a noncontributory, defined beneff penslon plan. At December $31,2024,$ Abbott and Abbott recelved the following information:

The expected long$-$term rate of return on plan assets was $\backslash (10\backslash \%\backslash ).$ There was no prior service cost and a negliglble net lossAOCl on January $1,2024.$

Required:

$1.$ Determine Abbott and Abbott's pension expense for $2024.$

$2.$ Prepare the Journal entries to record Abbott and Abbott's $($a$)$ penslon expense, $($b$)$ funding, and $($c$)$ payment for $2024.$

Complete this question by entering your answers in the tabs below.

Required $1$

Determine Abbott and Abbott's pension expense for $2024.$

Nate: Amounts to be deducted should be indicated with a minus sign. Enter your answers in mlions $($Le$.,10,000,000$ should be entered as $10).$