(Pension Expense, Journal Entries) Latoya Company provides the following selected information related to its defined-benefit pension plan for 2010.
(a) Compute pension expense and prepare the journal entry to record pension expense and the employers contribution to the pension plan in 2010. Preparation of a pension worksheet is not required. Benefits paid in 2010 were $35,000.
(b) Indicate the pension-related amounts that would be reported in the companys income statement and balance sheet for2010.
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