Pension data for Sam Adams Inc. include the following for the current calendar year: Discount rate, 8% Expected return on plan assets, 10% Actual return on plan assets, 9% Service cost, $380,000

January 1:
PBO	$	2,980,000
ABO		1,980,000
Plan assets		3,180,000
Amortization of prior service cost		28,000
Amortization of net gain		6,800
December 31:
Cash contributions to pension fund	$	273,000
Benefit payments to retirees		308,000

Required: 1. Determine pension expense for the year. 2. Prepare the journal entries to record pension expense and funding for the year. ***

*** I need help with the journal entries, please and thank you ****

Required 1 Required 2 Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.) $ Pension Expense Service cost Interest cost Expected return Amortization of prior service cost Amortization of net gain 380,000 238,400 (318,000) 28.000 (6,800) Pension expense $ 321,600 Required 1 Required 2 Prepare the journal entries to record pension expense and funding for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Credit Debit 321,600 1 Pension expense Plan assets 48,600 273,000 No Transaction Recorded Required 1 Required 2 > View transaction list Record the pension expense for the year. Record the entry to note funding for the year. Credit Note : = journal entry has been entered Record entry Clear entry View general journal