Problem #4 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 Pretax Accounting Income Service RevenueCollections 2017 S 574,000 $554,000 $ 2018 2019 2020 670,000 680,000 635,000 610,000 620,000 640,000 110,000 175,000 145,000 125,000 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. Prepare the appropriate journal entry to record Alsup's 2018 income taxes, Alsup's 2019 income taxes and Alsup's 2020 income taxes