3
Chapter
Journalizing
Transactions
LEARNING OBJECTIVES
After studying Chapter 3, in addition to defining
key terms, you will be able to:
LO1 Define what a journal is and
explain why it is used to
record transactions.
LO2 Compare and contrast
different types of source
documents.
LO3 Identify the four parts of a
journal entry.
LO4 Analyze and record cash
transactions using source
documents.
LO5 Analyze and record
transactions for buying and
paying on account.
LO6 Analyze and record
transactions that affect
owner's equity.
LO7 Analyze and record sales and
receipt of cash on account.
and how to start a new
journal page.
LO9 Identify and correct errors
using standard accounting
practices.
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Chapter 3
Journalizing Transactions
BLEND IMAGES/JUPITER IMAGES
©DANIEL KOUREY, ISTOCK/©JIM PRUITT, ISTOCK
LO8 Demonstrate when to end
