On January 1, 2021, McGee Co. had the following balances: Projected benefit obligation $7,800,000 Fair value of plan assets 7,800,000 Other data related to the pension plan for 2021: Service cost 315,000 Contributions to the plan 459,000 Benefits
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Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,100,000 par value, mature in four years, and pay 7% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1.
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