Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month, and 24-month contracts. The corporation provides services to each customer every month. On July 1, 2015, Bigham sold the following customer contracts:

Length of contract	Total Proceeds
12 months	$16,000
24 months	$32,000

Determine the income to be recognized in 2015 and 2016.

Length of Contract	2015 Income	2016 Income
12 months	$	$
24 months	$	$