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Sarasota Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $ 91,200 Contribution to the plan 104,700

Sarasota Company provides the following information about its defined benefit pension plan for the year 2020.

Service cost $ 91,200
Contribution to the plan 104,700
Prior service cost amortization 9,800
Actual and expected return on plan assets 62,800
Benefits paid 40,500
Plan assets at January 1, 2020 632,600
Projected benefit obligation at January 1, 2020 686,700
Accumulated OCI (PSC) at January 1, 2020 152,100
Interest/discount (settlement) rate 9

%

Balance, January 1, 2020

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Service cost

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Interest cost

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Actual return

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Amortization of PSC

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Contributions

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Benefits

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Journal entry for 2020

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Accumulated OCI, Dec. 31, 2019

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Balance, Dec. 31, 2020

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