With respect to income from services, which of the following is true? The income is always amortized over the period the services will be rendered by an accrual basis taxpayer. A cash basis taxpayer can spread the income from a 12-month service contract over the contract period. If an accrual basis taxpayer sells a 24-month service contract on July 1, 2011 for $2,400, the taxpayer's 2012 gross income from the contract is $1,800. If the accrual basis taxpayer sells a 12-month service contract on July 1, 2011, all of the income is recognized in 2011. None of the above