Okamura Construction Corp. has a defined benefit

From the Plan Actuary:

- Current service cost in \(20 \mathrm{X} 7\) is \(\$ 430,000\) and in \(20 X 8\) is \(\$ 488,000\).

- Defined benefit obligation is \(\$ 4,975,000\) at the beginning of \(20 X 7\).

- Unamortized past service cost at the beginning of \(20 X 7\) was \(\$ 180,000\).

- ARSP is 24 years at the beginning of 20X7; 23 years, at the beginning of 20X8. The vesting period is five years, of which there are three years remaining at the beginning of \(20 \times 7\) for the past service cost amounts.

- Unrecognized actuarial loss at the beginning of \(20 X 7\) was \(\$ 987,000\).

- Benefits paid to retires, \(\$ 235,000\) in \(20 X 7\) and \(\$ 295,000\) in 20X8.

- Actuarial revaluation at the end of \(20 X 7\) showed a \(\$ 406,000\) increase in the obligation. Revaluations take place every four years.

From the Plan Trustee:

- Plan assets at market value at the beginning of \(20 X 7\) were \(\$ 3,705,000\).

- \(20 X 7\) contributions were \(\$ 510,000\) and in \(20 X 8, \$ 525,000\).

- Actual earnings were \(\$ 276,000\) in \(20 X 7\) and \(\$ 80,000\) in \(20 X 8\).

Other Information:

- Interest rate on long-term debt, stable in \(20 X 7\) and \(20 X 8,6 \%\).

- Expected rate of return on asset, stable at \(4 \%\) in \(20 X 7\) and 20X8.

- The company uses the corridor method for actuarial losses, and amortizes excess amounts over the maximum period.

Required:
Prepare a spreadsheet for \(20 X 7\) and \(20 X 8\) that determines pension expense, and also the closing accrued pension asset or liability account. Round amounts to the nearest \(\$ 100\).