Vaughn Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $ 24,700 Cr. Accumulated benefit obligation (December 31) 402.500 Actual and expected return on plan assets 9,400 Contributions (funding) in 2020 150,200 Fair value of plan assets (December 31) 799,300 Settlement rate 10 % Projected benefit obligation (January 1) 696,500 Service cost 79,930 (a) Compute pension expense. Pension expense for 2020 $ Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. Preparation of a pension worksheet is not required. Benefits paid in 2020 were $32,100. (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 Ofor the amounts.) Account Titles and Explanation Debit Credit