Exercise 20-23 Sage Co. provides the following information about its postretirement benefit plan for the year 2017.

Service cost $81,300

Prior service cost amortization 2,800

Contribution to the plan 55,700

Actual and expected return on plan assets 68,100

Benefits paid 43,800

Plan assets at January 1, 2017 703,800

Accumulated postretirement benefit obligation at Jan 1, 2017 747,500

Accumulated OCI (PSC) at January 1, 2017 92,800 Dr.

Discount rate 10 %

Prepare a worksheet inserting January 1, 2017, balances, showing December 31, 2017, balances, and the journal entry recording postretirement benefit expense.

CALCULATOR Exercise 20-23 Sage Co. provides the following information about its postretirement benetit plan for the year 2 Service cost Prior service cost amortization Contribution to the plan Actual and expected return on plan asset:s Benefits paid Plan assets at January 1, 2017 Accumulated postretirement benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Discount rate 2017 $81,300 7,800 55,700 68,100 43,800 703,800 747,500 92,800 Dr. 10% Prepare a worksheet inserting January 1, 2017, balances, showing December 31, 201, balances, and the journal entry recording postretirement benefit expense. (Enter all amounts as positive.)