Which of the following statements are true? Aging the receivables is often referred to as the percentage of sales method. The percentage of sales method emphasizes proper estimating and reporting of bad debt expense on the income statement and the matching of expenses with revenues. Furniture and equipment are examples of tangible assets. When a corporation sells its capital stock, certificates are issued to the stockholders and the stock is said to be issued and outstanding. All costs incurred to purchase land and prepare it for its intended use are credited to the land account.