ABC Corp. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2018:

January 1, 2018 December 31, 2018

Projected benefit obligation (PBO) $2,200,000

Market-related asset value 1,700,000

Accumulated Other Comprehensive Income (PSC) 890,000

Unrecognized net (gains) and losses -0- 400,000

Service Cost 125,000

Amortization of prior service cost 240,000

Contribution 610,000

Benefits 200,000

Actual Return on plan asset 100,000

Settlement Rate & Expected rate of return 8%

Required:

a. Prepare the pension worksheet.

b. Prepare the journal entry