Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2021, Abbott and Abbott received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1		$	160
Service cost			24
Interest cost			16
Benefits paid			(11	)
Balance, December 31		$	189

Plan Assets
Balance, January 1		$	80
Actual return on plan assets			11
Contributions 2021			24
Benefits paid			(11	)
Balance, December 31		$	104

The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net lossAOCI on January 1, 2021. Required: 1. Determine Abbott and Abbotts pension expense for 2021. 2. Prepare the journal entries to record Abbott and Abbotts (a) pension expense, (b) funding, and (c) payment for 2021.

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2021. Pension expense million Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.) View transaction list Journal entry worksheet Record the pension expense. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required: 1. Determine Abbott and Abbott's pension expense for 2021. 2. Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet Record the funding of plan assets. Note: Enter debits before credits. Transaction General Journal Debit Credit B Record entry Clear entry View general journal Record the payment of benefits. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal