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Journal
Entries
Each
entry records the date, the accounts effected and their reference
number, an explanation of the transaction, and the debit/credit effect
on the accounts named. Information from the Journal is later
posted to each account.
Posting
Journal Entries
Periodically, usually at the end of the day journal entries are posted
to the effected accounts.
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AP,
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Adjusting
journal entry is a journal entry prepared to adjust account balances.
The
General Journal is the most basic of journals. It is a chronological
list of transactions. It has a very specific format for recording each
transaction.
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