What is a nerve synapse, and how does it transfer information?

Synapses are junctions between nerves. They allow information (impulses) to be transferred from one nerve to the next. The first nerve conducts an electrical impulse across its length, which causes it to release neurotransmitter molecules into the space between the two synapses. The neurotransmitter molecules travel across the synaptic space. The molecules then bind to receptors on the 2nd neurone ending. This binding causes an electrical impulse to be induced in the 2nd neurone.

This personally think this question would be best answered with the use of a diagram as well as text/labels.