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? The company uses the percentage of completion accounting method. 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.