On December 31, 2020, the projected benefit obligation and the accumulated benefit obligation were $4,936,000and $4,081,000, respectively. The fair value of the pension plan assets amounted to $4,048,000at the end of the year. A10% settlement rate and a10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2020 amounted to $201,000. The employer's contribution to the plan assets amounted to $761,000in 2020. This problem assumes no payment of pension benefits.

Prepare a schedule, based on the average remaining life per employee, showing the prior service cost that would be amortized as a component of pension expense for 2020, 2021, and 2022. (Round answers to O decimal places, e.g. 2,525.) Prior Service Cost Amortization 2020 $ 2021 $ 2022 $ eTextbook and Media List of Accounts Compute pension expense for the year 2020. (Round answers to O decimal places, e.g. 2,525.) Pension expense $ eTextbook and Media List of Accounts Compute the amount of the 2020 increase/decrease in net gains or losses and the amount to be amortized in 2020 and 2021. (Round answers to O decimal places, e.g. 2,525.) Net gain 12/31/20 $ Amortization in 2020 $ Amortization in 2021 $ eTextbook and Media List of Accounts Prepare the journal entries required to report the accounting for the company's pension plan for 2020. (Round answers to O decimal places, e.g. 2,525. 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 0 for the amounts.) Account Titles and Explanation Debit Credit