Assignment 14: references 2023 2024 2025 2026 Service Revenue $ 660,000 750,000 710,000 716,000 Saved Collections $ 620,000 778,000 702,000 720,000 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 2023-2026 are as follows: Pretax Accounting Help Income $ 186,000 260,000 228,000 200,000 Save & Exit Submit Check my work 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, 2023-2026.) Required: 1. to 3. Prepare the appropriate journal entries to record Alsup's 2024 income taxes, 2025 income taxes, and 2026 income taxes. Note: 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.

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 rate for each year is 25%. (Hint You witl find it helpful to prepare a schedule that show5 the balances in service revenue receivable at December 31 , 2023-2026.) Required: 1. to 3. Prepare the appropriate journal entries to record Alsup's 2024 income taxes, 2025 income taxes, and 2026 income taxes. Note: 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