Explain the structure and purpose of a Journal Entry. Explain your logic as to how you determine (1) what accounts are involved, (2) whether they have increased or decreased, and (3) what the debit or credit it is. Explain what a General Journal is, and the relationship of the General Journal with the General Ledger through the posting process.
Response must be at least 150 words, substantive, relevant, and posted by the due date. Open-ended questions to classmates or instructor do not count.