FULL SCREEN PUNTE VERSION $1,550 Exercise 19-8 Blossom Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information about the plan in thousands of dollar January 1, 2020 December 31, 2020 Vested benefit obligation $1,200 Defined benefit obligation, accounting basis 2,240 3,044 Plan assets (fair value) 1,300 2,095 Interest/discount rate 10% 10% Net defined benefit liability/asset 7 Past service cost, plan amendment, effective December 30, 2020 380 Service cost for the year 2020 320 Contributions (funding) 2020 640 Benefits pald in 2020 D 120 Prepare a 2020 pension work sheet. (Enter answers in thousands of dollars.) Prepare a 2020 pension worksheet (Enter answers in thousands of dollars.) Blossom Limited Pension Work Sheet - 2020 (ASPE) General Journal Entries Net Delined Benefit Liability Cash Asut Benefit Obligation Annual Pension Expense Items Balance, Jan. 1, 2020 (a) Service cost (b) Net interest/finance cost (c) Asset remeasurement gain (d) Past service cost in year (e) Contributions (f) Benefits paid Expense entry - 2020 Contribution entry - 2020 Acta Balance, Dec. 31, 2020 Memo Record Net Defined Benefit Liability/ Cash Defined Benefit Obligation Plan Assets Activate Windows Prepare the journal entries at December 31, 2020, to record pension expense and the funding contributions. (Credit account titles are automatically indented when Debit Credit Date Account Titles and Explanation 2020 (To record pension expense.) 2020 (To record contribution to the pension fund.) LINK TO TEXT LINK TO TEXT LINK TO TEXT Questio Activate