((({AP_VEND_PMT_ACT.AP_PMT_TYPE_CD} = "D") and ({AP_PMT_DTL_VIEW.AP_TRAN_TYPE_CD} = "I"))
or
(IsNull({AP_VEND_PMT_ACT.AP_PMT_TYPE_CD}) and ({AP_PMT_DTL_VIEW.AP_TRAN_TYPE_CD}) = "M"))
It looks like parentheses enclose the second half of the OR statement twice, try moving the parenthesis to...
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