Abbott and Abbott has a noncontributory defined benefit pension plan At December 31, 2021, Abbott and Abbott received the following information Projected Benefit obligation BalanceJanuary Service cost Interest cost Benefits paid Balance, December 31 Sinions) $120 20 12 19) $143 Plan Assets Balance, January 1 Actual return on plan assets Contributions 2021 Benefits paid Balance, December 31 $ 30 9 20 $100 The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2021 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 payment for 2021 Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers millions (ie., 10,000,000 should be entered as 10).) No Transaction General Joumal Credit Pension expense Plan assets PBO >>> Debit 24 8 PBO 20 X 12 B B Plan assets Cash 3 20 20 8 x X 12%