Blossom Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $27.200 Cr. Accumulated benefit obligation (December 31) 397,500 Actual and expected return on plan assets 10,900 Contributions (tunding) in 2020 150,600 Fair value of plan assets (December 31) 795,300 Settlement rate 10 % Projected benefit obligation (January 1) 701,900 Service cost 79,530 (a) Your answer is correct. Compute pension expense. Pension pynense for 2020 13AR 20 (a) Your answer is correct. Compute pension expensc. Pension expense for 2020 $ 138820 Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. Preparation of a pension worksheet is not required. Benefits paid in 2020 were $40,900. (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 for the amounts.) Account Titles and Explanation Debit Credit Pension Expense 138820 Pension Assct/Liability 11780 Cash 150600 e Textbook and Media Question 4 of 4 2/4 = : (b) Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2020. Blossom Company Income Statement (Partial) Dividends Blossom Company Balance Sheet (Partial)