10 Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for financial reporting purposes when the services are performed. For tax purposes, revenue is reported when fees are collected Service revenue, collections, and pretax accounting income for 2017-2020 are as follows: 10 points 2017 2018 2019 2020 $674,000 778,000 735,000 720,000 $644,008 785,008 710,000 750,000 Pretax Accounting Income $220,000 275,009 245,000 225,000 e are no differences between accounting income and taxable income other than the temporary difference described above. The enacted tax rate for each year is 40%. Hint You may fin it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31.2017- 2020) Required: 1. Prepare the appropriate journal entry to record Alsup's 2018 income taxes, Alsup's 2019 income taxes and Alsup's 2020 income axes. If no entry is required for a trensactionlevent, select "No journal entry required" in the first account field. Enter answers in thousends.) Answer is not complete. No Debit 110.000 6,000 Credit Income tax expense Deferred tax lability Income tax payable 116 000