Midnight Company provides retirement benefits to employees through defined benefit plan. The trustee administering the plan and your analysis of the plan provided the following information for the year ended December 31, 2018:

1.Journal Entries to record the funding and the retirement liability/asset

2.Balance of the defined benefit asset or liability as of December 31, 2018

Plan Assets, at fair value, 12/31/2015 Benefit obligation, 12/31/2015 2016 Contribution 2016 Service cost Discount rate Actuarial loss on defined benefit obligation Actuarial loss on plan assets Past service cost because of plan amendment Benefits paid 1,250,000 1,350,000 2,360,000 2,000,000 9% 50,000 2,000 300,000 120,000