USA Petty Cast Journal Entry

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I'm new in accounting and I work for a company with two subsidiaries.

Recently the company received some cash which was posted as petty cash for company 1.
The company used some of this cash but now they want to move the remainder of the cash to company 2

What's the best way to best to post a journal entry to transfer the remainder of the cash between subsidiaries?
 

BIG E

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Company 1:
DR Intercompany Balance-Company 2
CR Cash

Company 2:
DR Cash
CR Intercompany Balance-Company 1
 

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