The following tables are the reports of the pension trustee and pension actuary for Golf is Good Inc., which started the defined benefit pension plan at the beginning of 2018:

Required:

a. Prepare the journal entries for Golf is Good’s pension plan in 2018. Record each item of pension expense and OCI separately. 

b. Prepare the journal entries for Golf is Good’s pension plan in 2019. Record each item of pension expense and OCI separately.

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Pension trustee report Opening assets, January 1 + Funding (received beginning of year) Payments to retirees (paid at end of year) $ 2018 0 2,000,000 (100,000) 2019 $1,900,000 2,000,000 (130,000)