Setting a default for nextval sequence

I'm attempting to set the default value for a serial column. I created a
generic function that I am passing a table name as the only parameter. I
had it working correctly, however, it does not seem to like the sequence
name being the same name for each audit table that is created through the
function.
So I changed the code to include the table name as part of the naming
convention. Now, I need help on how to alter the serial column the new
value

EXECUTE 'CREATE SEQUENCE '|| t_name ||'tab_id_seq'|| ' OWNED BY '|| t_name
|| '_cdc'||'.table_id';

EXECUTE 'ALTER TABLE ' || quote_ident(t_name || '_cdc') || ' ALTER
COLUMN table_id SET DEFAULT nextval(''tab_id_seq'');';