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

 Alsup Consulting sometimes performs services for which it receives payment at

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 20232026 are as follows: There are no differences between accounting income and taxable income other than the temporary difference described above. The enacted tax tate for each yeat is 25% (Hint You will find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31,2023 . 2026) Required: 1. to 3. Prepare the appropnate journal entries to record Alsup's 2024 income taves. 2025 income taxes, and 2026 income taxes Note: If no entry is required for a transoction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollors. Journal entry worksheet

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