Barrios Communications is a provider of satellite television services. It will install a satellite dish free of charge for any customer that agrees to a one$-$year service contract at a price of $$50$ per month. Installation costs Barrios $$150.$ Customers typically remain with Barrios for much longer than the one year required, an average of $10$ years $($i$.$e$.,9$ years beyond their contractual obligation$).$

Barrios enters into a contract under the terms described above on January $1,20$X$1.$

Required:

What amount of revenue should Barrios record related to the contract in $20$X$1?$

What amount of expense related to the contract should Barrios record related to the contract in $20$X$1?$