Larkspur Company received the following selected information from its pension plan trustee concerning the operation of the company's defined benefit pension plan for the year ended December 31, 2020. Projected benefit obligation Market-related and fair value of plan assets Accumulated benefit obligation Accumulated OCI (G/L)--Net gain January 1, 2020 December 31, 2020 $1.508,000 $1.537,000 807.000 1,138,700 1.581.000 1.702,800 0 (200,800 The service cost component of pension expense for employee services rendered in the current year amounted to $79,000 and the amortization of prior service cost was $121.800. The company's actual funding (contributions) of the plan in 2020 amounted to $251.000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1.218.000 on January 1, 2020. Assume no benefits paid 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 eg.-45 or parenthesis eg. (451) Components of Pension Expense Service Cost 79000 Interest on Projected Benefit Obligation 150800 Expected Return on Plan Assets -80700 Amortization of Prior Service Cost 121800 270900 Prepare the journal entry to record pension expense and the employer's contribution to the pension plan 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 for the amounts.) Account Titles and Explanation Debit Credit Pension Expense Pension Asset/Liability Other Comprehensive Income (PSC) Other Comprehensive Income (G/L) Cash (To record pension expense and employer's contribution)