Prepare a pension worksheet for Indigo Corporation for 2020. General Journal Entries Annual Pension Expense Cash Balance, January 1, 2020 0 Current Service Cost 83,000 Dr. 0 Past Service Cost 170,000 Dr. 0 Net Interest/Finance Cost 67,500 Dr. 0 Asset Remeasurement Gain/Loss 14,800 Cr. 4 0 Employer Contributions to Pension Fund 0 85,000 Benefits Paid to Retirees from Pension Fund 0 4 0 Pension Expense Entry - 2020 Dr. 0 Net Funding Entry 0 85,000 Balance, December 31, 2020 Prepare a pension worksheet for Indigo Corporation for 2020. Memo Record Net Defined Liability/ Asset Defined Benefit Obligation Plan Assets Dr. Cr. Dr. 0 83,000 Cr.. 0 0 170,000 Cr. - 0 0 67,500 Cr. Dr. 0 14,800 Dr. 0 0 85,000 Dr. 0 29,000 Dr. Cr. Cr. 0 0 85,000 Dr. 0 0 Cr. Cr .. Cr. Prepare pension plan journal entries for Indigo Corporation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit 85.000 85.000 (To record pension expense) 29,000 Cash 29,000 (To record payment to the pension fund) eTextbook and Media List of Accounts Assistance Used Your answer is partially correct. What is the funded status for Indigo Corporation at December 31, 2020? Indigo's pension plan is underfunded by $ on December 31, 2020. Indigo Corporation is a privately owned company that uses ASPE. On January 1, 2020 Indigo's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation Pension Plan Assets $1,350,000 1,480,000 Indigo Corporation's actuary provided the following information on December 31, 2020: Current year service cost Prior service cost, granted Jan 1, 2020 Employer contributions for the year Benefits paid to retirees Expected return on assets Actual return on assets Discount rate $83,000 170,000 85,000 29,000 5% 6% 5%