Total newby at bookkeeping here . . .

I wasn't expecting a PST refund cheque but now that I have it , I need to record it properly. I have a PST payable account that I believe I should make an entry in, does that make sense? Or not? Of course, this cheque will also affect my chequing account where it will be deposited and debited. But what account should be credited? 

Or do I create a new account called PST refunds?

Thanks