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 20172020 are as follows:

	Service Revenue			Collections			Pretax Accounting Income
2017	$	650,000		$	620,000		$	186,000
2018		750,000			770,000			250,000
2019		715,000			700,000			220,000
2020		700,000			720,000			200,000

There 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 find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 20172020.) Required: 1. to 3. Prepare the appropriate journal entries to record Alsup's 2018 income taxes, 2019 income taxes and 2020 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.)

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 019 2020 Service Revenue $650,000 750,000 715,000 700,000 Collections $620,000 770,00e 700,000 726,00 Pretax Accounting Income $186,008 250,00 220,000 200,000 There 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 find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 2017- 2020.) Required 1. to 3. Prepare the appropriate journal entries to record Alsup's 2018 income taxes, 2019 income taxes and 2020 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) Answer is complete but not entirely correct. No Event General Journal Debit Credit Income tax expense Deferred tax liability 100,000 8,000 Income tax payable 108,000 Income tax expense 88,000 Deferred tax liability Income tax payable 6,000 82,000 Income tax expense Deferred tax liability 80,000 8,000 Income tax payable 88,000