Pass the journal entry

Rent Deposit Dr

       Cr Mr M C Patel

Rent Deposit..................Dr.

    To Bank A/c...............Cr.

Rent Deposit A/c ..........Dr.           XXX

         To Bank A/c                                         XXX

However if Deposit is non Refundable then Entry Should be..........

Rent A/c ................ Dr.                    XXX

         To Bank A/c                                         XXX

As Prateek says, if rent deposit is unrefundable, then it should be treated as deferred revenue expenditure and should be written offer over the entire tenure of the lease.  I am attaching herewith a link which is very useful for CPT students.  You are requested to kindly give me your feedback.  

https://www.youtube.com/user/jbsclasses