Question: Checking accounts are one of the most common forms of deposits for banks. Assume that Surety Storage has a checking account at Ada Savings Bank.

Checking accounts are one of the most common forms of deposits for banks. Assume that Surety Storage has a checking account at Ada Savings Bank. What type of account (asset, liability, stockholders' equity, revenue, expense, drawing) does the account balance of $11,375 represent from the viewpoint of
(a) Surety Storage
(b) Ada Savings Bank?

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