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What amount of employee benefits expense was recognized

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Question - Salve Company reported plan assets at fair value of P2,000,000 and projected benefit obligation on P4,000,000 on December 31, 20202. On January 1, 2020, the prepaid/ accrued benefit cost account had a credit balance of P1,500,000. During the year, the entity recognized contributions of P1,200,000 and remeasurement loss of P600,000. There was no remeasurement gain or loss on January 1, 2020. What amount of employee benefits expense was recognized for 2020?

Reference no: EM133162852

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