The following information is available for Oriole Corporations pension plan for the year 2020:

Plan assets, January 1, 2020		$410,000
Actual return on plan assets		17,000
Benefits paid to retirees		40,300
Contributions (funding)		94,100
Discount rate		11%
Defined benefit obligation, January 1, 2020, accounting basis valuation		506,000
Service cost		66,300

(a)

Calculate pension expense for the year 2020, assuming that Oriole follows IFRS.

Pension expense

$

Provide the entries to recognize the pension expense and funding for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2020
	(To record pension expense and remeasurement loss.)
December 31, 2020
	(To record contributions to the pension fund.)