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, 2021, Bigham sold the following customer contracts: Length of contract Total Proceeds 12 months $48,400 24 months $96,800 Determine the income to be recognized in taxable income in 2021 and 2022.

Length of Contract 2021 Income 2022 Income

12 months $__________ $___________

24 months $__________ $___________