When using the Allowance method to account for uncollectible accounts, between the income statement approach and the balance sheet approach, which is more accurate in your opinion? Fully support your answer with sound research.

Can the Allowance account be used to misinterpret a company's financial results? How so? Provide at least one example of how a company might accomplish this.

Suppose a company accepts a Note Receivable in lieu of an Accounts Receivable. How would the company record this transaction? Provide an example and related journal entry