First you need to cut the record. This can be done with a saw or a sharp razor blade. Cut it so that it's a little bigger than A5 (aprox 1/2" at each side). You may need to saw the sides to get rid of any sharp bits.
Now you need to drill 3 holes. Two on the left side of the record for the ring binder hoops and one on the right in the center.
You don't have to but it's usally best to mount your record on a thick peice of card or plastic.
You now need to make a back for your notebook. If the record came with a cool sleeve then cut it up and use that for your back otherwise posters or anything else will do. Cut this to the same size as the record and then put the same 3 holes in again.
To make sure that nothing can fall out of your notebook thread the third hole (on the record and the back cover) with ribbon. This makes a nice little tie. Now all you have to do is decorate it.