Cullumber Corporation applies ASPE and sponsors a defined benefit pension plan. The following pension plan information is available for 2020 and 2021: 2020 2021 Plan assets (fair value), December 31 $515,100 $642,000 Defined benefit obligation, January 1 595,000 700,000 Net defined benefit liability (asset), January 1 247,200 ? Current service cost 57,950 87,000 Actual return on plan assets 24,800 50,600 Funding of current service cost 59,000 87,000 Funding of past service costs 90,000 62,000 Benefits paid ? ? Interest/discount rate 9% 9% The pension fund paid out benefits in each year. There were no actuarial gains or losses incurred on the DBO in the two-year period. Calculate pension expense for 2020 and 2021. Pension expense, 2020 $ Pension expense, 2021 $ Prepare all journal entries to record the pension expense and the company's pension plan funding for both years. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2020 2020 2021 2021 (To record pension expense.) (To record contributions to the pension fund.) (To record pension expense.) (To record contributions to the pension fund.) Annual Pension Items Expense Balance, Jan. 1, 2020 (a) Service cost (b) Net interest/finance cost (c) Asset remeasurement loss (d) Company contributions (e) Benefits paid Expense entry, 12/31/20 Contribution entry, 2020 Balance, Dec. 31, 2020, Jan 1, 2021 (1) Service cost (g) Net interest/finance cost (h) Asset remeasurement gain (i) Company contributions (Benefits paid Expense entry, 12/31/21 $ Contribution entry, 2021 Balance, Dec. 31.2021 $ Cullumber Corporation Pension Work Sheet-2020 and 2021 General Journal Entries Cash $ Net. Def. Benefit Liab/Asset Defined Benefit Obligation Plan Assets