Page 300 - Agriculture_Form_Three

Agriculture for Secondary Schools

A cheque can be ‘crossed’ or ‘open’. A crossed cheque is a cheque on which two
parallel lines are drawn, up and down on the cheque leaf. A crossed cheque cannot be
cashed and must be paid into a payee bank account. An open cheque can be cashed
at the bank and cheque deposit slip will be given to a client to serve as receipt.
A cheque can be endorsed. This means that the payee signs his/her name on the

back of the cheque and gives it to somebody else by way of payment. However, an
endorsement can be forged. Therefore, to make endorsement impossible, the words
‘not negotiable’ or account payee only’ are added to a crossed cheque. Figure 13.5
shows an example of necessary particulars used to be written on a cheque.

To draw from one’s own account, ‘self’ or ‘cash’ is written on the line intended for
the payee’s name. To put money into one’s own account, whether cash or cheque,
one has to fill in a pay-in slip, in duplicate, which the bank provides. Cheque and
pay-in slip are handed over to the cashier who checks the slip and collects one copy

back after having stamped it. This slip serves as a receipt.

Activity 13.6
With the guidance of the teacher, find cheque slip samples or copy of cheque slips
(if applicable from different banks).
1. Practise to fill them in groups.

2. Present your work to other groups through gallery walk, thereafter discuss the
works in plenary.

Receipt
This is a document issued by the seller to the buyer after he/she has received payment
for goods/services offered. The payment may be in the form of cash or cheque;
therefore, the receipt must indicate the mode of payment. A standard receipt should
provide a description of goods/services, quantity, price of goods/services per unit,

and the total value of goods/services purchased. A receipt also shows the name of the
buyer and the form of payment, that is, cash or cheque. The buyer should keep the
receipt and later enter it in his/her cash book. After offering receipts, you should also
take a summary of what was sold and enter them in cash analysis book. In Tanzania,
nowadays fiscal receipts are used by traders or entrepreneurs who have an average
revenue of at least TZS 4,000,000 per year. However, the small-scale farmers selling
at their homes or on the market are not likely using fiscal receipts. They must note

their sales at the end of the day in their petty cash book or directly in the cash book.

Student’s Book Form Twos Book Form Three
Student’
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