Below Is a Narrative for the "Make Payment" Portion (Bubble

question 90

Essay

Below is a narrative for the "Make payment" portion (bubble 2.0) of the accounts payable/cash disbursements process described in Chapter 13.
Narrative Description
The payment process begins with the periodic preparation of a list of payments that might be made at this time (bubble 2.1). The selection of items for this list is based on payment due dates and terms that may indicate a discount can be taken for a payment at this time. The proposed list is reviewed and amended (bubble 2.2) to add additional invoices that are not due for payment yet but that can be consolidated with other payments being made to a vendor. Proposed payments may be removed from the list if there are insufficient funds or if payments to a vendor are on hold.
Bubble 2.3 depicts the process of preparing the disbursement, which is equal to the amount of the invoice less any discount taken. The payment is recorded by:
*Marlang the invaice as paid an the accaunts payable master data.
*Maling an enty in the cash disbursements event data 5 tore.
*Sending payment date to the general ledger where an entry is made to reflect the payment. Required:
From the DFD (TB Figure 13.5) and the narrative description above, explode bubble 2.0 into a lower-level diagram showing the details of that process.

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Definitions:

Actual Price Level

Refers to the current general level of prices for goods and services in the economy, often measured by indices such as the Consumer Price Index (CPI).

State of Technology

Refers to the current level of technological development and innovation in a society or industry.

Actual Output

The real production level of goods and services in an economy within a specific period, measured by GDP.

Potential Output

The maximum amount of goods and services an economy can produce when it is fully employed, without causing inflation.