66. Prepaid interest income a. is recognized as income by cash basis taxpayers when it is earned. b. is recognized as income by accrual basis taxpayers when it is earned. c. is recognized by accrual basis taxpayers when received. d. None of the above. 67. Which statement is true concerning Series E or EE issues of U.S. Savings Bonds? Subscribe to unlock 68. JKL Corporation is a large construction company with annual gross receipts, avera This year the corporation signed an agreement to construct a road for $720,000 $600,000. This year the corporation actually incurred costs of $240,000. For the the contract will be Subscribe to unlock + V + 1