When you first purchase new equipment, you need to debit the specific equipment (i.e. What the journal entry to record a purchase of equipment?In this video I'm going to talk about entries related to purchasing assets for your business. If there is a loss, record it as a debit to the loss on the disposal account. Step 8: Complete the Journal Entry –. A sample entry to record a fixed asset purchase would be as follows: Fixed asset journal entry. Depreciation.