[Question] Property bought by Pty Ltd

[mtj]

Hi

My question relates to account posting.

Company wanted to buy a residential property for an employee by transferring a amount of money to hold the property for them.

the offer was not accepted and the money was then returned.

So how do i account for these two transactions? i dont have an account set up for it.
Do i open one called Property Purchases - classified as a asset/current asset ?????
the two cancel it each out but still just need to recon the bank statement.

Any help will be much appreciated.

Thanks