Required a: Preparation of the journal entries to record the purchases. Date. In this comprehensive guide, we'll delve into the intricacies of booking fixed asset journal entries, with a specific focus on disposal transactions.The District can acquire capital assets through a purchase, trade-in, capital lease agreement, or a contribution. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Journal Entry includes debiting and crediting an account of either asset, liabilities, equity, revenue or expenses.