Question 3 of 6 - / 15 View Policies Current Attempt in Progress Pronghorn Corporation is a privately owned company that uses ASPE. On January 1, 2020 Pronghorn's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,360,000 Pension Plan Assets 1,520,000 Pronghorn Corporation's actuary provided the following information on December 31, 2020: Current year service cost $80,000 Prior service cost, granted Jan 1, 2020 194,000 Employer contributions for the year 84,000 Benefits paid to retirees 31,000 Expected return on assets 5% Actual return on assets 6% Discount rate 5% Prepare a pension worksheet for Pronghorn Corporation for 2020. General Journal Entri Annual Pension Expense Cash Balance, January 1, 2020 Current Service Cost Past Service Cost Pension Expense Entry - 2020 Net Funding Entry Balance, December 31, 2020 eTextbook and Media List of Accounts Prepare pension plan journal entries for Pronghorn 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 for the amounts.) Account Titles and Explanation Debit Credit (To record pension expense) (To record payment to the pension fund) eTextbook and Media List of Accounts What is the funded status for Pronghorn Corporation at December 31, 2020? Pronghorn's pension plan is by $ on December 31, 2020. eTextbook and Media List of Accounts