16. On June 30, a printing shop provides $1,000 of services to a customer to custom print restaurant menus. The customer is sent a bill on July 6 for the amount due. A check in the amount of $1,000 is received from the customer on July 18. The printing shop follows GAAP and applies the revenue recognition principle. When is the $1,000 revenue recognized? a. June 30 b. July 6 c. July 18 d. July 30 17. Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. In completing the engagement, Susan Zupan pays no costs in March, $1,000 in April, and $1,500 in May (incurred in April). How much expense should the firm deduct from revenues in the month when it recognizes the revenue? a. 0 b. 1,000 c. 1,500 d. 2,500