Check my work Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2021, Abbott and Abbott received the following information: Projected Benefit Obligation Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 ($ in millions) $200 33 22 (11) $244 Plan Assets Balance, January 1 Actual return on plan assets Contributions 2021 Benefits paid Balance, December 31 $100 12 33 (11) $134 The expected long-term rate of return on plan assets was 11%. 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 (c) payment for 2021. CH Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment required for a transaction/event, select "No journal entry required" in the first account field. Enter your answe 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet A B > 5 Record the pension expense. Note: Enter debits before credits. Debit Credit Transaction A General Journal Pension expense Plan assets 43 12 PBO Check my work The expected long-term rate of return on plan assets was 11%. 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 (c) payment for 2021 Complete this question by entering your answers in the tabs below. s Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2021. Pension expense $ 43 million View transaction list Journal entry worksheet Record the funding of plan assets. Note: Enter debits before credits. General Journal Debit Credit Transaction B View transaction list Journal entry worksheet