The accounting cycle is a series of steps done in each accounting period to keep records in an orderly fashion. You can use the general journal to record all of the transactions of a business.

• Explain the first three steps in the accounting cycle.

• Give and describe several examples of source documents.

• Explain the purpose of journalizing.

• Apply information from source documents.

• Describe the steps to make a general journal entry.

• Make general journal entries.

• Correct errors in general journal entries.