Ivanhoe Company provides the following selected information related to its defined benefit pension plan for 2020.

Pension asset/liability (January 1)		$24,000	Cr.
Accumulated benefit obligation (December 31)		398,100
Actual and expected return on plan assets		9,700
Contributions (funding) in 2020		148,900
Fair value of plan assets (December 31)		792,000
Settlement rate		10	%
Projected benefit obligation (January 1)		695,000
Service cost		79,200

Compute pension expense.

Pension expense for 2020

$

Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. Preparation of a pension worksheet is not required. Benefits paid in 2020 were $37,600. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2020. Ivanhoe Company Income Statement (Partial) Ivanhoe Company Balance Sheet (Partial)