This section is from the book "Elementary Banking", by John Franklin Ebersole. Also available from Amazon: Elementary Banking.
As an illustration of the manner in which this account is handled: Assume that at the close of the day the bank held $14,000 of these checks, taken usually through the receiving teller. The entries to show them on the general ledger are as follows:
Debit: Checks on Non-Member Clearing House Banks (13)..........
Credit: Due to Depositors (37)
The following day when the checks are collected and funds come in therefor, the following entries will be made:
Debit: Cash (11)..................
Credit: Checks on Non-Member Clearing House Banks (13).....