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

question 89

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:
Using the DFD in TB Figure 13.7 and the narrative description above, identify the words that belong in items 1 to 9 of Diagram 2.0 (TB Figure 13.8).

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Definitions:

Financial Statements

Documents that present a business's financial performance and position, typically including the balance sheet, income statement, and cash flow statement.

Investing Activities

These are transactions involving the purchase and sale of long-term assets and other investments, not including cash equivalents.

Financing Activities

Transactions related to raising capital and repaying investors, impacting the equity and long-term debt of an entity.

Common Stock

A type of security that denotes ownership in a corporation and represents a claim on part of the corporation's profits or losses.