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In: AccountingExercise 20-23Pronghorn Co. provides the following information about itspostretirement benefit plan for the year...Exercise 20-23Pronghorn Co. provides the following information about itspostretirement benefit plan for the year 2017.Service cost$89,900Prior service cost amortization3,100Contribution to the plan51,500Actual and expected return on plan assets57,900Benefits paid43,400Plan assets at January 1, 2017714,600Accumulated postretirement benefit obligation at January 1,2017750,400Accumulated OCI (PSC) at January 1, 2017102,300Dr.Discount rate9%Prepare a worksheet inserting January 1, 2017, balances, showingDecember 31, 2017, balances, and the journal entry recordingpostretirement benefit expense. (Enter all amounts aspositive.)PRONGHORN CO.Postretirement Benefit Worksheet—2017General Journal EntriesMemo RecordItemsAnnual PostretirementExpenseCashOCI—PriorService CostPostretirement Asset/LiabilityAPBOPlan AssetsBalance, Jan. 1, 2017$Dr.Cr.$Dr.Cr.$Dr.Cr.$Dr.Cr.$Dr.Cr.$Dr.Cr.Service costDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Interest costDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Actual returnDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.ContributionsDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.BenefitsDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Amortization of PSCDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Journal entry for 2017$Dr.Cr.$Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Accumulated OCI, Dec. 31, 2016Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Balance, Dec. 31, 2017$Dr.Cr.$Dr.Cr.$Dr.Cr.$Dr.Cr.