Below Is the Narrative for the "Receive Payment" Portion (I

question 121

Essay

Below is the narrative for the "Receive payment" portion (i.e., bubble 3.0) of the B/AR/CR process.
Narrative Description
The payment and remittance advice data triggers the receive payment process. Upon receipt of the payment and RA from the bank, process 3.1 first validates the remittance by comparing the payment to the RA. Mismatches are rejected for later processing. If the payment and RA agree, the validated remittance is sent to process 3.2, which uses the RA to update the accounts receivable master data to reflect the customer's payment and records the collection in the cash receipts events data, and notifies the general ledger process of the amount of the cash deposited. This is an immediate update of the GL for a single cash receipt.
Required:
From the DFD in TB Figure 11.7 and the narrative description above, explode bubble 3.0 into a lower-level diagram showing the details of that process.

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Definitions:

Life Span

The duration or length of life of an organism, object, or system, often used in the context of product life cycles or human longevity.

Portfolio

In finance, a collection of investments.

Projects

Individual or collaborative efforts undertaken to achieve a specific goal within a certain timeframe.

Monte Carlo Simulation

A computational technique that utilizes random sampling and statistical modeling to estimate mathematical functions and mimic the operation of complex systems.