Exercise 20-10 Sunland Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances relate to this plan. Plan assets $478,400 Projected benefit obligation 612,700 Pension asset/liability 134,300 Accumulated OCI (PSC) 97,100 Dr. As a result of the operation of the plan during 2020, the following additional data are provided by the actuary. Service cost $86,500 Settlement rate, 10% Actual return on plan assets 56,000 Amortization of prior service cost 20,000 Expected return on plan assets 53,100 Unexpected loss from change in projected benefit obligation, due to change in actuarial predictions 78,200 Contributions 95,600 Benefits paid retirees 81,100 Your answer is partially correct. Try again. Using the data above, compute pension expense for Sunland Corp. for the year 2020 by preparing a pension worksheet. (Enter all amo SUNLA Pension General Journal Entries Annual Pension OCI-Prior Items Expense Cash Service Cost Balance, Jan 1, 2020 Service cost Dr. Interest cost Dr. Dr. Dr. Dr. Dr. Actual return Dr. Dr. Unexpected gain Amortization of PSC Liability increase Contributions Benefits Journal entry for 2020 CH Dr. Accumulated OCI, Dec 31, 2019 Balance, December 31, 2020 Dr. punts as positive.) AND CORP. Worksheet OCI - Gain/ Pension Asset/ Liability Memo Record Projected Benefit Obligation Plan Assets Loss Dr. Dr. Dr. Dr. Dr. Dr. Dr. Dr. RS Dr. Dr. Dr. Dr. Cr Dr. x Your answer is incorrect. Try again. Prepare the journal entry for pension expense for 2020. (Credit account titles are automatically indented when amount is entered. D Account Titles and Explanation Credit Debit Click if you would like to show Work for this question: Open Show Work