Banks rely heavily upon customers' deposits as a source of funds. Demand deposits normally pay interest to the customer, who is entitled to withdraw at any time without prior notice to the bank. Checking and NOW (negotiable order of withdrawal) accounts are the most common form of demand deposits for banks. Assume that Peachtree Storage has a checking account at Buckhead Savings Bank. What type of account (asset, liability, stockholders' equity, revenue, expense, dividends) does the account balance of \(\$ 18,750\) represent from the viewpoint of

(a) Peachtree Storage and

(b) Buckhead Savings Bank?