Journal entry worksheet 1 2 Record the gain or loss on PBO. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal Journal entry worksheet < 1 2 Record funding for the year. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal Michigan Consulting Company has a defined benefit pension plan. The following pension-related data were available for the current calendar year: PBO: Balance, Jan. 1 Service cost Interest cost (5% discount rate) Gain from changes in actuarial assumptions in 2021 Benefits paid to retirees Balance, Dec. 31 Plan assets: Balance, Jan.1 Actual return (expected return was $23,400) Contributions Benefits paid Balance, Dec. 31 ABO, Dec. 31 January 1, 2021, balances: Prior service cost-AOCI (amortization $4,765/yr.) Net gain-AOCI (amortization, if any, over 15 years) $249,000 50,000 12,450 (5,900) (29,000) $276,550 $259,000 20,000 44,000 (29,000) $294,000 $254,900 4,765 47,650 There were no other relevant data. Required: 1. Calculate the 2021 pension expense. 2. Prepare the 2021 journal entries to record pension expense and funding. (Show separate entries to record Pension expense and contributions to the plan fund) 3. Prepare any journal entries to record any 2021 gains or losses. (Prepare separate entries to record gains/loss on PBO and Plan Assets for 2021). Refer to textbook for journal entries terminology and format. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the 2021 pension expense. (Amounts to be deducted should be indicated with a minus si Pension Expense Pension expense $ 0 Required 1 Required 2 Required 3 Prepare the 2021 journal entries to record pension expense and funding. (If no entry is required for journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the pension expense for the year. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal > Required 1 Required 2 Required 3 Prepare any journal entries to record any 2021 gains or losses. (If no entry is required for a transaction/event, select required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the gain or loss on plan assets. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal