Sarasota Company provides the following selected information related to its defined benefit pension plan for 2020. $ 24,900 Cr 402,300 10.900 Pension asset/liability (January 1) Accumulated benefit obligation (December 31) Actual and expected return on plan assets Contributions (funding) in 2020 Fair value of plan assets (December 31) Settlement rate 151,500 805,100 10 % Projected benefit obligation (January 1) 697.100 Service cost 80,510 Compute pension expense. Pension expense for 2020 I $ Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. Preparation of a pension worksheet is not required. Benefits paid in 2020 were $ 29,500. (Credit account titles are automatically indented when 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 e Textbook and Media HA