Question: 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

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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 2020-2023 are as follows: Pretax Accounting Service Revenue Collections Income 2929 4676,809 $636, 908 $202, 090 2921 766, 808 794, 098 276,989 2922 726,809 718, 909 244,090 2023 732,090 736, 090 216, 980 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 25%. (Hint: You will find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 2020- 2023.) Required: 1. to 3. Prepare the appropriate journal entries to record Alsup's 2021 income taxes. 2022 income taxes and 2023 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 (e.g. 150,000 should be entered as 150).) View transaction list Journal entry worksheet 2 3 Record 2021 income taxes. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journalJournal entry worksheet

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