Carolina Consulting Company has a defined benefit pension plan. The following pension-related data were available for the current calendar year:

PBO:
Balance, Jan. 1	$	238,000
Service cost		39,000
Interest cost (5% discount rate)		11,900
Gain from changes in actuarial assumptions in 2021		(4,800	)
Benefits paid to retirees		(18,000	)
Balance, Dec. 31	$	266,100
Plan assets:
Balance, Jan.1	$	248,000
Actual return (expected return was $22,300)		20,000
Contributions		33,000
Benefits paid		(18,000	)
Balance, Dec. 31	$	283,000
ABO, Dec. 31	$	242,800
January 1, 2021, balances:
Prior service costAOCI (amortization $4,880/yr.)		4,880
Net gainAOCI (amortization, if any, over 15 years)		48,800

There were no other relevant data. Required: 1. Calculate the 2021 pension expense. 2. Prepare the 2021 journal entries to record pension expense and funding. 3. Prepare any journal entries to record any 2021 gains or losses.

Calculate the 2021 pension expense. (Amounts to be deducted should be indicated with a minus sign.)

Pension Expense
Pension expense

Prepare the 2021 journal entries to record pension expense and funding. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

• Record the pension expense for the year.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1

Prepare any journal entries to record any 2021 gains or losses. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

• Record the gain or loss on plan assets.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1