Provide calculations (if its possible)

QUESTION 23 Which financial statement is prepared first? O Retained earnings statement O Balance sheet O Income statement O Statement of cash flows QUESTION 24 The ledger of Entity G at the end of the current year shows Accounts Receivable of $350,000. Bad debts are expected to be 5% of Accounts Receivable. Allowance for Doubtful Accounts has a credit balance of $2,000 in the trial balance. What is the amount of bad debt expense for the year? O $15.500 O $17.500 $2.000 O $18,500 QUESTION 25 Entity H opened in December 2022. On December 16, Entity H received a bill for $400 for utilities which it will pay next month. Which of the following is the correct entry? O No entry is required O Dr. Utility Expense 400 Cr. Cash 400 O Dr. Accounts Payable 400 Cr. Cash 400 O Dr. Utility expense 400 Cr. Accounts payable 400 QUESTION 26 Which of the following statements about a trial balance is correct? O a trial balance won't balance if a transaction was posted twice O a trial balance proves that all transactions have been recorded. O a trial balance proves that the ledger is correct. O despite its limitations, a trial balance is a useful screen for finding errors and is frequently used in practice. QUESTION 27 On March 1, 2022. Entity C sold merchandise to Entity D for $3,000. terms 2/10, net 30. The merchandise cost Entity C $1,000. Both companies use a perpetual inventory system. Entity D paid Entity Con March 10. What amount did Entity D pay to Entity C? O $2,940 O $3.000 O $1.000 O $3,060