How do I fill out the general and online DCAD rendition form? Both the buyer and seller must complete IRS Form 8594 during the sale to report the sale and purchase of business assets.When you first purchase new equipment, you need to debit the specific equipment (ie, asset) account. And, credit the account you pay for the asset from. There are two main methods for calculating purchase consideration: first, the net asset method; and second, the net payment method. You are doubling up because you are entering twice as many transactions as you may need.