C tion.com AA On January 1, 2020, Xiamen Company made amendments to its defined benefit pension plan that resulted in 62,700 yuan of past service cost. The plan has 5,070 active employees with an average expected remaining working life of 10 years. There currently are no retirees under the plan. Assume that Xiamen Company is a foreign company using IFRS and is owned by a company using US GAAP Thus, IFRS balances must be converted to U.S. GAAP to prepare consolidated financial statements. Ignore income taxes Required: Prepare journal entries for the past service cost for the years ending December 31, 2020, and December 31, 2021, under (1) IFRS and (2) US GAAP Prepare the entry(ies) that the U.S. parent would make on the December 31, 2020, and December 31, 2021, conversion worksheets to convert IFRS balances to U.S. GAAP Complete this question by entering your answers in the tabs below. Prepare journal entries for the past service cost for the years ending December 31, 2020, and December 31, 2021, under (1) IFRS and (2) U.S. GAAP. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) < Journal entry worksheet