Petty cash book is a ledger used to record small, day-to-day transactions of a business. It is maintained to keep track of small expenses, such as stationery, refreshments, and other miscellaneous items, that do not require a formal purchase order.
The petty cash book records transactions on both credit and debit sides. When a petty cash transaction occurs, the amount is entered on the debit side of the book, indicating the increase in petty cash. When the petty cash is used to make a payment, the amount is entered on the credit side of the book, indicating the decrease in petty cash.
Therefore, the correct answer to the question is: both credit and debit sides. Petty cash book records transactions on both the credit and debit sides of the book.