Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2024, Abbott and Abbott received the following information: Projected Benefit Obligation Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan Assets Balance, January 1 Actual return on plan assets Contributions 2024 Benefits paid. Balance, December 31 ($ in millions) $ 120 20 12 (9) $ 143 $ 80 9 20 (9) $ 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, 2024. Required: 1. Determine Abbott and Abbott's pension expense for 2024. 2. Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2024. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Determine Abbott and Abbott's pension expense for 2024. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (1.e., 10,000,000 should be entered as 10).

Abbott and Abbott has a noncontributory, defined benefit pension plan, At December 31,2024, Abbott and Abbott received the following information: The expected long-term rate of return on plan assets was 10 . There was no prior service cost and a negligible net loss - AOCl on January 1, 2024, Required: 1. Determine Abbott and Abbotr's pension expense for 2024. 2. Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding. and (c) payment for 2024. Complete this question by entering your answers in the tabs below. Determine Abbott and Abbott's pension expense for 2024. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in milions (1.e, 10,000,000 should be entered as 101