When you record a $25,000 invoice from a subcontractor for plumbing 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. Five percent retention is withheld from the invoice. Use the chart of accounts in Figure 2-1 and the job cost codes from Figure 2-5 from Construction Financial Management. Be sure to specify if the change increases or decreases the accounts balance. (25 pts