We note that $L^{1}(\mathbb R)$ is an algebra with respect to convolution without identity element. However, regarded as a Banach algebra, $(L^{1}(\mathbb R), \ast) $ has a bounded approximate identity with respect to convolution, that is, there is a set $\{e_{r}\}_{r>0}\subset L^{1}$ such that $\|e_{r}\|_{L^{1}}\leq C$ for all $r>0$ and $C$ is some constant and $\|e_{r}\ast f- f\|_{L^{1}} \to 0$ as $r\to 0$ for $f\in L^{1}.$
My Questions are: (1) What are other examples of Banach algebras (preferably function spaces) that have a bounded approximate identity? (2) Is $L^{1}$ the only convolution algebra which has a bounded approximate identity?