Current service cost	$ 144,000
Contribution to the plan	182,600
Past service cost, effective December 31, 2020	60,000
Actual return on plan assets	160,000
Benefits paid	95,000
Net defined benefit liability at January 1, 2020	20,000
Plan assets at January 1, 2020	1,780,000
Defined benefit obligation at January 1, 2020	1,800,000
Interest/discount rate on the DBO and plan assets	9%

Instructions

1)Compute the balances of DBO and Plan assets at the end of December 31, 2020

2)Prepare all the necessary entries