1 of 10 View Policies Current Attempt in Progress The following facts apply to the pension plan of Swifty Inc. for the year 2020. Plan assets, January 1, 2020 $511,800 Projected benefit obligation, January 1, 2020 511,800 Settlement rate 8 % Service cost 36.500 Contributions (funding) 23.500 Actual and expected return on plan assets 50,300 Benefits paid to retirees 33,400 -/15 E! Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Balance, January 1, 2020 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Balance, December 31, 2020 Annual Pension Expense 0 0 SWIFTY INC. Pension Worksheet-202 General Journal Entries Cash 0 $ $ Per Question 1 of 10 View Policies Current Attempt in Progress The following facts apply to the pension plan of Swifty Inc. for the year 2020. Plan assets, January 1, 2020 $511,800 Projected benefit obligation, January 1, 2020 511,800 Settlement rate 8 % Service cost 36,500 Contributions (funding) 23,500 Actual and expected return on plan assets 50,300 Benefits paid to retirees 33,400 -/15 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) SWIFTY INC. ension Worksheet-2020 Pension Asset/ Liability $ $ Memo Record Projected Benefit Plan Obligation Assets $ $