The following facts apply to the pension plan of Windsor Inc. for the year 2020. Plan assets, January 1, 2020 Projected benefit obligation, January 1, 2020 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $505,500 505,500 8% 38,400 26,100 47,600 33,700 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) WINDSOR INC. Pension Worksheet-2020 General Journal Entries Annual Pension Expense Pension Liabi Items Cash Balance, January 1, 2020 Service cost 38400 Dr. Interest cost 40440 Dr. Actual return (47600) Cr. Contributions (26100) Benefits Journal entry, December 31 $_ 31240 Dr. Dr. (26100) Balance, December 31, 2020 $ Taytbook and Media Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) WINDSOR INC. Pension Worksheet-2020 es Memo Record Pension Asset/ Liability Projected Benefit Obligation Plan Assets Cr. V (50500) Dr. 505500 Cr. (38400) Dr. v (40440) Dr. 47600 Dr. 26100 Dr. 33700 (33700) Cr. ] [Cr. v Cr. (550640) Dr. v 545500 Dr. (5140) Dr. (550640) Cr. - $ 545500 Dr. v