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M-BUSD 2004 0 Saved Goodday Ltd. has a defined benefit pension plan and a December 31 year-end. The following information relates to the plan 33 Balances: Defined benefit obligation, end of 20x7 $5,270,000 Pension plan assets, fair value, end of 20x7 4,700,000 SFP net defined benefit liability, end of 20x7 570,eee er SEP accumulated OCI, pension, end of 28x? 71,400 dr Retained earnings, end of 20x7 8,634,400 cr. 2ex8 earnings, prior to any pension expense 4,222,000 cr. Current service cost for 20x8, measured using the projected unit credit method 645,300 New past service cost granted in 20x8, negative because benefits were reduced and the liability has declined ((290,000) Contributions made to the pension plan assets paid at end of 20x8 430,000 Actuarial gain in 20x8, negative because caused by higher anticipated future mortality rates and the liability has declined (104,000) Actual earnings in the fund, reported by the pension fund trustee, including interest, dividends, and change in fair value 150,300 Benefits paid to pensioners from Pension fund assets paid at end of 20x3 84,000 Interest rate on long-term corporate bonds, end of 20x8 5% Required: Prepare the journal entry to record the third element of pension accounting for the defined benefit plan. That is calculate remeasurement(s). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the actuarial loss or gain due to change in assumptions. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal