Question

Smith Company adds its annual cash investment to plan assets in the amount of $5 million. The journal entry to record this includes

Answer 1

A debit to plan assets

Step-by-step explanation:

Based on the information given we were told that the Company added its annual cash investment to plan assets in the amount of $5 million which means that The journal entry to record this will includes A debit to plan assets of the amount of $5 million which was the amount that was added to annual cash investment to plan assets.