2. Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12- and 24-month contracts. The corporation provides services to each customer every month. On July 1, 2023, Bigham sold the following customer contracts: Length of contract Total Proceeds 12 months $56,800 24 months $113,600 Determine the income to be recognized in taxable income in 2023 and 2024. Length of Contract 2023 Income 2024 Income 12 months 24 months