In the journal entry, the Pension Asset/Liability account is credited for:

A. $400,000

B. $159,500

C. $150,000

D. None of the above

$6,400,000 6,000,000 400,000 350,000 On January 1, 2019, McGee Co. had the following balances: Projected benefit obligation Fair value of plan assets Other data related to the pension plan for 2019: contributions to the plan Benefits paid On 1/1/20019, prior service cost was granted having a present value of Actual return on plan assets Settlement rate Expected rate of return Amortized Prior Service cost Amortization of net gain Service cost 150,000 430,000 9% 7% 40,000 50,000 250,000