1. If a fixed asset is sold for more than its net book value, the difference is called a and should be recorded on the income statement. If it is sold for less than its net book value, a should be recorded. 2. A results in the lessee (renter) assuming virtually all of the ownership rights of the leased asset at the end of the lease term. 3. In the event a customer has difficulty paying off an account receivable in the original timeframe it was due, it can be converted to a more formalized asset referred to as a , which often includes interest and collateral. 4. When preparing a bank reconciliation,. are amounts recorded in the company's cash account but have not yet been added to the company's balance in the bank's records