Whispering Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2020 and 2021.

		2020			2021
Plan assets (fair value), December 31		$747,930			$908,430
Projected benefit obligation, January 1		749,000			856,000
Pension asset/liability, January 1		149,800	Cr.		?
Prior service cost, January 1		267,500			256,800
Service cost		64,200			96,300
Actual and expected return on plan assets		25,680			32,100
Amortization of prior service cost		10,700			12,840
Contributions (funding)		123,050			128,400
Accumulated benefit obligation, December 31		535,000			588,500
Interest/settlement rate		9	%		9	%

(a)

Correct answer iconYour answer is correct.

Compute pension expense for 2020 and 2021.

Pension expense for 2020		$
Pension expense for 2021		$

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List of Accounts

(b)

Partially correct answer iconYour answer is partially correct.

Prepare the journal entries to record the pension expense and the companys funding of the pension plan for both years. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020
Dec. 31, 2021