Question: 5. When you pay a $10,000 materials invoice for lumber coded to Phase 1 of Job 102, what changes occur on the balance sheet, income

 5. When you pay a $10,000 materials invoice for lumber coded

to Phase 1 of Job 102, what changes occur on the balance

sheet, income statement, job cost ledger, and equipment ledger? Use the chart

5. When you pay a $10,000 materials invoice for lumber coded to Phase 1 of Job 102, what changes occur on the balance sheet, income statement, job cost ledger, and equipment ledger? Use the chart of accounts in Figure 2-1 and the job cost codes from Figure 2-6 from Construction Accounting and Financial Management. Be sure to specify if the change increases or decreases the account's balance

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