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Our financial statements at December 31, 2019, contained a net defined benefit liability of $120,000 and disclosed a defined benefit obligation (DBO) of $390,000. -

Our financial statements at December 31, 2019, contained a net defined benefit liability of $120,000 and disclosed a defined benefit obligation (DBO) of $390,000. - We contributed $36,000 to the plan on November 1, 2020. - Our current service cost for 2020 was determined to be $40,000. - Benefits of $20,000 were paid from the plan evenly throughout 2020. - The discount rate applied to the pension plan liabilities and plan assets is 5%. - There was a loss on remeasurement of the plan assets of $4,100 and and an acturial gain of $ 5900 for 2020

( a). PREPARE THE JOURNAL ENTRY FOR CONTRIBUTION TO THE PLAN DURING 2020.

(b) prepare the pension expense for 2020 recognizing separately each component of the pension expense.

(c ) prepare the journal entry remeasurment of plan asset and acturial losses .

( d ) prepare the journal entry of benefits for plan.

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