$25.$ Preparing a pension work sheet.

The accountant for Marlin Corporation has developed the following information for the company's defined$-$benefit pension plan for $2021$:

Service cost$$ $$1,000,000$X

Actual return on plan assets$520,000$X

Annual contribution to the plan$1,830,000$X

Amortization of prior service cost$240,000$X

Benefits paid to retirees$130,000$X

Settlement rate$10\mathrm{.}0\%$X

Expected rate of return on plan assets$9\mathrm{.}5\%$X

$$

The projected benefit obligation at December $31,2020,$ amounted to $$8,000,000.$

Plan assets totaled $6,000,000$ at December $31,2020.$

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Instructions

$($a$)$Using the above information for Marlin Corporation, complete the pension work sheet for $2021.$ Indicate $($credit$)$ entries by parentheses. Calculated amounts should be supported.

$($b$)$Prepare the journal entry to reflect the accounting for the company's pension plan for the year ending December $31,2021.$