Prepare the journal to record the purchase of the property, including all relevant expenditures. Assume that at transactions were for cash and that all purchases occurred at the start of the year (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Prepare the journal to record the purchase of the property, including all relevant expenditures. Assume that at transactions were for cash and that all purchases occurred at the start of the year (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)