Please explain all steps!!

Preparing Pension Journal Entries and Pension Worksheet Mac Company has a noncontributory defined benefit pension plan, with the following data available. Account Balances PBO balance, before PSC adjustment Prior service cost (due to plan amendment on Jan. 1, 2020) Plan Asset balance Jan. 1, 2020 $90,000 Cr. 10,000 Dr. 105,000 Dr. 2020 $65,000 0 Activity Service cost Pension benefits paid Actual and expected return on plan assets Cash funding (contributions) Pension benefits paid to retirees 5,000 50,000 0 a. Calculate interest cost assuming a discount rate of 8%. $ 0 X b. Compute net pension expense. Assume that prior service cost will be amortized over a 10-year average remaining service period. Pension expense, 2020 $ 0 x C. Provide the 2020 entries for Mac Company related to the defined benefit pension plan. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. C. Provide the 2020 entries for Mac Company related to the defined benefit pension plan. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Dr. Cr. 0 x O 0 Date Account Name Jan. 1, 2020 OCIPrior Service Costs Projected Benefit Obligation To record deferral of prior service costs Dec. 31, 2020 Pension Expense Plan Assets 0 x 0 0 x O OCIPrior Service Costs A 0 OX O Ox Projected Benefit Obligation To record pension expense Dec. 31, 2020 Plan Assets A 0 x O Cash 0 0 x To record plan funding Check