Examlex
When union dues that have been withheld from employees' wages are turned over to the union treasurer, the account Union Dues Payable is debited.
Posting
The procedure of transferring journal entries to the ledger accounts.
Adjusting Entries
Journal entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
General Journal
A primary accounting record used to record all types of transactions, including adjustments, in chronological order.
General Ledger
A comprehensive collection of a company's accounts, including all transactions and balances, used for preparing financial statements.
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