Ball Data Corporation provides stock market data to investors. On January 1, 20X1, it sells a customer access to its real-time database for two years at a price of $600,000. The customer has the right to access Ball’s database any time, 24 hours per day, to obtain real-time data about stock prices around the world. On the same date, Ball sells to another customer for $150,000 access to 20 years of historical data for the next two years. The customer has the right to access the data, containing historical information for the 20 years through 20X0, 24 hours per day and is also free to download the data and retain it after the two-year access to Ball’s system has expired.

Required:

How much revenue should Ball record in 20X1 on each of the contracts?