This section is from the book "Elementary Banking", by John Franklin Ebersole. Also available from Amazon: Elementary Banking.
When one person receives money from another it is customary to give a receipt or voucher, showing the amount, the purpose for which the money was paid, the date, the name of the person paying the money, and the signature of the person paid. Blanks for receipts can be obtained at any stationery store. Care should be taken to preserve all receipts of whatever kind, for they are often very important as evidence if there is an attempt made to collect payment a second time. The use of checks as receipts is growing steadily, and the indorsement of the payee is usually considered an adequate receipt, particularly if a voucher check has been used.
Belvidere, I11., Oct. 10, 1922. $22.00
Received of Edward J. Graham, Twenty-two dollars, to apply on the account of Murray McQuade.
John A. Waters.