Colbert operates a catering service on the accrual method. In November of year $1,$ Colbertreceived a payment of $$9,000$ for $24$ months of catering services to be rendered fromDecember ist of vear $1$ through November $30$th of vear $3.$ When must Colbert recognize theincome if his accounting methods are selected to minimize income recognition?

$$375$ is recognized in year $1$ and $$8,625$ in year $2.$

$$375$ is recognized in year $1,$ $$4,500$ in year $2,$ and $$4,125$ in year $3.$

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$$9\mathrm{.}000$ is recognized in year $3$

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$$9\mathrm{.}000$ is recognized in year $1.$