Prepare the journal entry recording pension expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Exercise 20-3 Veldre Company provides the following information about its defined benefit pension plan for the year 2014. Service cost $98,100 Contribution to the plan 112,100 19,900 Prior service cost amortization Actual and expected return on plan assets 71,300 41,600 Benefits paid Plan assets at January 1, 2014 648,600 Projected benefit obligation at January 1, 2014 701,000 Accumulated OCI (PSC) at January 1, 2014 150,500 Interest/discount (settlement) rate 8 Prepare a pension worksheet inserting January 1, 201 balances, showing December 31, 2014. 4