The following information is available for ABC Corporations' pension plan for the 2020 fiscal year:

Defined benefit obligation, 1/1/20, accounting basis, before plan amendment $295,000

Fair value of plan assets, 1/1/20 3,27,000

Current service cost 63,900

Discount rate 10%

Actual return on plan assets 8%

Contributions (funding) 78,600

Benefits paid to retirees 42,800

On January 1, 2020, ABC amended its pension plan, resulting in the past service costs with a present value of $139,900. ABC follows ASPE.

1)Calculate the defined benefit expense for 2020

2)Prepare journal entries to record the expense and funding for the year