Jai asula Company SPOTISOI dueneu bener pension PialTTUI TLS employees. HE TOITOVIIg uala Telale lo lile operatioITOI Le plan TUI Lie year ZUZU IIT VITICIITTO benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2020 amounted to $56,100. 2. The company's funding policy requires a contribution to the pension trustee amounting to $136,572 for 2020. 3. As of January 1, 2020, the company had a projected benefit obligation of $903,400, an accumulated benefit obligation of $799,600, and a debit balance of $401,800 in accumulated OCI (PSC). The fair value of pension plan assets amounted to $602,500 at the beginning of the year. The actual and expected return on plan assets was $54,400. The settlement rate was 8%. No gains or losses occurred in 2020 and no benefits were paid. 4. Amortization of prior service cost was $49,700 in 2020. Amortization of net gain or loss was not required in 2020. (a) Your answer is correct. Determine the amounts of the components of pension expense that should be recognized by the company in 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) Components of Pension Expense Service Cost $ 56100 Interest on Projected Benefit Obligation V 72272 Expected Return on Plan Assets -54400 Amortization of Prior Service Cost 49700 Pension Expense Pension Expense s 0 123672 123672 Prepare the journal entry or entries to record pension expense and the employer's contribution to the pension trustee in 2020. (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 e Textbook and Media List of Accounts Attempts: 0 of 3 used