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Business, 24.04.2020 21:46 tylerineedhelp
A defined benefit plan requires an annual pension cost of $90,000 based on estimates of future pension liabilities. On December 31, the company pays $70,000 to the pension fund. The journal entry will include a. a credit to Cash for $90,000. b. a credit to Unfunded Pension Liability for $20,000. c. a debit to Pension Expense for $70,000. d. None of these choices are correct.
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