Complete the following with examples :
1. Briefly explain the difference between the income statement approach and the balance sheet approach to estimating bad debts.
2. If a company has accounts receivable from ordinary customers and from related parties, can they combine those receivables in their financial statements under U.S. GAAP? Under IFRS?
3. Is any special accounting treatment required for the assigning of accounts receivable in general as collateral for debt?
4. Explain any possible differences between accounting for an account receivable factored with recourse compared with one factored without recourse.