Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2024, Abbott and Abbott received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1	$ 100
Service cost	27
Interest cost	11
Benefits paid	(10)
Balance, December 31	$ 128

Plan Assets
Balance, January 1	$ 100
Actual return on plan assets	13
Contributions 2021	27
Benefits paid	(10)
Balance, December 31	$ 130

The expected long-term rate of return on plan assets was 8%. There was no prior service cost and a negligible net lossAOCI on January 1, 2024.

Required:

Determine Abbott and Abbotts pension expense for 2024.

Prepare the journal entries to record Abbott and Abbotts (a) pension expense, (b) funding, and (c) payment for 2024.