B Problem 17-9 (Algo) Determine pension expense: PBO; plan assets; net pension asset or liability: journal entries (LO17-3, 17-4, 17-5, 17.6.17.7.17-8] US Metallurgical tric. reported the following balances in its tiriantlal statements and disclosure notes at December 31, 2020 Plant assets Projecte benefit obligation $540,000 150,000 USM's actwy determined that 2021 service cost is $7.000 Both the expected and actuat rate of return on plan assets are to The Interest (descontrate is 4% US.M. contributed $134000 to the pension fund at the end of 2021 and retirees were paid $58.000 from an assets (Enter your answers in thousand (., 10,000 should be entered os 10) Required: 1. What is the person expense at the end of 2021 2. What is the projected benefit obligation at the end of 20211 3. What is the plant assets balance at the end of 20212 4. Wat is the net pension asset or net pension liability at the end of 2021 3. Prepare journal entries to record the pension expense() funding of plan assets, and (c) retiree benefit payments Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Rea 1 Reg 5 1. What is the pension expense at the end of 20212 2. What is the projected benefit obligation at the end of 20212 3. What is the plan assets balance at the end of 2021 1. What is the net pension asset or net pension liability at the end of 2021? Enter your answers in thousands (les 10,000 should be entered as 10) Show less December 31, 2021 1 Pension expense 2 Projectod benefit obligation 3 Plan assets 4 Reg 5 > Journal entry worksheet Record the pension expense. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal