Ivanhoe Ltd. provides a defined contribution pension plan for its employees. Currently, the company has 69 full-time and 74 part-time employees. The pension plan requires the company to make an annual contribution of $4,800 per full-time employee, and $3,900 per part-time employee, regardless of their annual salary. In addition, employees can match the employer's contribution in any given year. At the beginning of the year, 10 full-time and 26 part-time employees elected to contribute to their pension plan by matching the company's contribution. An equal amount of funds was withheld from the employees' cheques to fund their pension contribution. Both the employees' and employer's contributions are sent to the plan trustee at year end. Your answer is incorrect. What amount of pension benefit expense will the company report? Pension benefit expense to be reported $ 769,200 Your answer is partially correct. Prepare a summary journal entry to record Ivanhoe's payment to the plan trustee. Assume no accruals have been recorded for the employer portion and use the account Pension Contributions Payable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Pension Contributions Payable Cash Debit 619800 Credit 619800