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Alsup Consulting sometimes performs services for which it receives payment at the...

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Accounting

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:
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:
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.
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