The following information is available for the pension plan of Waterway Company for the year 2020. Actual and expected return on plan assets $14,300 Benefits paid to retirees Contributions (funding) 41,900 96,100 Interest/discount rate 10 % Prior service cost amortization 8,800 Projected benefit obligation, January 1, 2020 529,000 Service cost 58,800 (a) Your answer is correct. Compute pension expense for the year 2020. Pension expense for 2020 eTextbook and Media $ 106200 (b) Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. (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 O for the amounts.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Save for Later Assistance Used Attempts: 0 of 3 used Submit