1. Resting membrane potential (-70 mV)
2. Ligand-gated Na channel opens, Na+ enters cell, making it less negative
3. Threshold activated (-50 to -55 mV)
4. Depolarization, voltage-gated Na+ channels open, large entry of Na+
5. Overshoot/spike/action potential (+30 mV)
6. Na+ channels inactivate, voltage-gated K+ channels open
7. Repolarization, K+ leaves cell to restore resting membrane potential
8. Hyperpolarization, K+ channel gates remain open, cell becomes too negative, Na+/K+ ATPase pump restores balance