The following information relates to Gallup Co. for 2020:

	Projected Benefit Obligation	Market Value of Plan Assets
Balance on January 1	$650,000	$725,000
Balance on December32	$690,000	$740,000

Based on the above information, the net change (i.e. the journal entry) to the Pension Asset/Liability account for the year would be:

Group of answer choices

Credit of $50,000

Credit of $25,000

Debit of $25,000

Debit of $50,000