ABC Company is a marketplace that sells inventory on behalf of suppliers in UAE, Singapore, and France. Customers from all over the world (any country) buy that inventory and pay in their local currency. Payments are handled by a payments provider who will exchange the local currency paid by customers into the specific currency of the supplier of that inventory, remitting the exchanged funds into ABCs AED, SGD, or EUR bank accounts 2 days after the payment is made by the customer.

Each product sold through the marketplace is then manufactured and shipped directly to the customer. Manufacturing time depends on the specific product, ranging from 1 to 60 days. Once the product has shipped, ABC shall owe the supplier 70% of the product selling price and shall retain the remaining 30% as revenue. ABC pays all suppliers every Monday for any shipments made in the prior week.

For example, on 1 January 2019 a customer in USA buys achair that originates from a Singapore supplier. They pay USD 120 and ABCs payment provider exchanges the payment into SGD 165, and remits those funds to ABCsSGD bank account. The chair is manufactured and shipped in 18 days, and ABC pays the Singapore supplier on the Monday after the chair has shipped.

Based on the business model described, how would youaccount for all the processes between the time a customer buys the product until the payment is made to the supplier? Be sure to explain the various accounts that will be affect, the processes that need to take place, and all workflows that will be followed.

Note: you are free to make any assumptions if a detail was not described in the exercise, as long as that assumption is explained.