Opsco Corp. provides the following information about its post-retirement health-care benefit plan for the year 2020: 

Instructions 

a. Assuming Opsco follows IFRS, calculate the post-retirement benefit expense for 2020, and prepare all required journal entries related to the post-retirement benefit plan that were made by the company in 2020. 

b. Assuming Opsco follows ASPE, calculate the post-retirement benefit expense for 2020, and prepare all required journal entries related to the post-retirement benefit plan that were made by the company in 2020.

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Current service cost $ 202,500 Contribution to the plan 47,250 Actual return on plan assets Benefits paid 141,750 90,000 Plan assets at January 1, 2020 1,597,500 Defined post-retirement benefit obligation at January 1, 2020 1,822,500 Discount rate 9%