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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

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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 2020 $684,000 $644,000 $210,000 2021 774,000 B02,000 284,000 2022 734,000 726,000 252,000 2023 748,000 744,000 224,000 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 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 whole dollars.) View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 1 Income tax expense Deferred tax liability (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 fleld. Enter your answers in whole dollars.) View transaction list View journal entry worksheet No General Journal Debit Cru 1 1 Income tax expense Deferred tax liability Income tax payable 2 2 Income tax expense Deferred tax liability Income tax payable 3 3 Income tax expense Duferred tax liability Income tax payable

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