1. Able Inc. adopted a defined benefit pension plan, with the following balances on January 1, 2017: plan assets $264,500; projected benefit obligation $422,800; Accumulated OCI-net loss $3,000. Other data related to the operation of the plan are as follows 2017 2018 Annual service cost Interest rate and expected rate of return Actual return on plan assets I Annual funding (contributions) Benefits paid Prior service cost (plan amended 1/1/16) Amortization of prior service cost Change in actuarial assumptions, Dec 31 PBO Average remaining service life S 26,000 25,000 10% 25,000 49,000 21,000 22,000 10% 24,000 48,000 41,600 520,000 15 years 36,000 15 years The journal entries to record pension related activities for the year 2017 include a. Debit pension expense for $83,430. b. Debit cash for $48,000. c. Credit PBO for $97.200 d. Debit Plan Asset for $51,000