Businesses must record sales tax collections and payments for organized and accurate books. To correctly reflect expenses in the current year, a GL Journal entry need to be recorded.This GL Journal entry should be reversed in the new year. 8. The equipment sold is used. In addition to your EIN, some businesses will also need to register for the Florida Sales and Use tax. In this comprehensive guide, we'll delve into the intricacies of booking fixed asset journal entries, with a specific focus on disposal transactions. Get online access to The Wall Street Journal, free with your library card. Click the link below to create your WSJ account.