Sections:

Recording Transactions in a General Journal, Page 2

Icon for Objectives Recording Transactions in a General Journal: Objectives

After you have completed this section, you will be able to: 

  1. Explain the first three steps in the accounting cycle. 
  2. Give and describe several examples of source documents. 
  3. Explain the purpose of journalizing. 
  4. Apply information from source documents. 
  5. Describe the steps to make a general journal entry. 
  6. Correct errors in general journal entries. 
  7. Define the accounting terms introduced in this chapter.