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Business, 11.05.2021 19:50 Thania3902

Riverbed Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $89,800
Contribution to the plan 107,000
Prior service cost amortization 10,700
Actual and expected return on plan assets 65,200
Benefits paid 40,100
Plan assets at January 1, 2020 647,500
Projected benefit obligation at January 1, 2020 707,800
Accumulated OCI (PSC) at January 1, 2020 147,500
Interest/discount (settlement) rate 9 %
a. Prepare a pension worksheet inserting January 1, 2020, balances, showing December 31, 2017. (Enter all amounts as positive.)
b. Prepare the journal entry recording pension expense.

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