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Business, 31.07.2020 01:01 nakeytrag

Elm City contributes to and administers a single‐employer defined benefit pension plan on behalf of its covered employees. The plan is accounted for in a Pension Trust Fund. Actuarially determined employer contribution requirements and contributions actually made for the past three years, along with the percentage of annual covered payroll, were as follows: Contribution made Actuarial requirement Amount Percent Amount Percent 2005 $11,000 26 $11,000 26 2004 5,000 12 10,000 24 2003 None None 8,000 20 To record the 2005 pension contribution of $11,000, what debit is required in the governmental‐type fund used in connection with employer pension contributions?

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