The Carrin-Carrin Law Firm offers legal services in the immigration area and operates under the cash and receipt accounting method (cash basis). During 2020, he represented 100 clients in Bankruptcy Court, the fees to each client were $ 1,000, and the 100 clients paid for his services in 2020. Likewise, the firm represented 50 additional clients during 2020, whose The fees were also $ 1,000 each, but these clients paid between January and February 2021. Determine:

1. What amount of income was made in 2020. Explain. 2. What amount of income is recognized in 2020. Explain.