Problem 4: Pensions (15 points) Davidson Company has a defined benefit plan with the following information for a recent period: Beginning Plan Assets Beginning PBO Beginning Prior Service Cost Service Cost Amortization of Prior Service Cost Contributions Paid to Plan Benefits Paid to Retirees Estimated Return on Assets Discount Rate $1,500,000 2,000,000 300,000 100,000 100,000 250,000 200,000 8.50% 11.00% Required Answer the following questions Answers Questions What is the beginning accrued pension liability? What is the total pension expense? What is the ending balance in plan assets? What is the ending balance in the PBO? What is the ending accrued pension liability? I Prepare the journal entry to record pension expense Accounts Debit Credit