Bigham Corporation, an accrual basis calendar year taxpayer sells its services under 12-month, and 24-month contracs. Thu provides services to each sustomer every month. On July 1, 2021, Bigham sold the following customer contracts Length of contract 12 months Total Proceeds $14,000 $24,000 24 months Determine the income to be recognized in 2021 and 2022. Length of Contract 2021 Income 2022 Income 12 months 24 months