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, 2020, Bigham sold the following customer contracts:

Length of contract	Total Proceeds
12 months	$17,200
24 months	$34,400

Determine the income to be recognized in taxable income in 2020 and 2021.

Length of Contract	2020 Income	2021 Income
12 months	$	$
24 months	$	$