84F Pearl Company received the following selected information from its pension plan trustee concerning the operation of the company's defined benefit pension plan for the year ended December 31, 2020. January 1, 2020 December 31, 2020 Projected benefit obligation $1,486,000 $1,515,000 Market-related and fair value of plan assets 791,000 1,121,100 Accumulated benefit obligation 1,585,000 1,706,400 Accumulated OCI (G/L)-Net gain 0 (198,600 ) The service cost component of pension expense for employee services rendered in the current year amounted to $79,000 and the amortization of prior service cost was $121,400. The company's actual funding (contributions) of the plan in 2020 amounted to $251,000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1,214,000 on January 1, 2020. Assume no benefits paid in 2020. Ps 2 Sunny Determine the amounts of the components of pension expense that should be recognized by the company in 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) 84F Sunny 84F Sunny 84F Sunny Components of Pension Expense $ Ps CO Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record pension expense and employer's contribution) eTextbook and Media Pearl Company Comprehensive Income Statement O Pearl Company Balance Sheet (Partial) SA $ $ 10:51 AM 8/8/2022 10:52 AM 8/8/2022 10:55 AM Ps 8/8/2022 Ps $XXXX $XXXX 10:57 AM 8/8/2022 40.50 ALA