On Dec 31, 2022, a client made a non-binding promise to purchase a car from the bank as a part of a Murabaha arrangement. The bank purchased the car on Jan 1, 2023, at a cost of USD 1000 and sold the car to the client at a price of USD 1,500 on Jan 2, 2023. At the time of purchase, the bank will make the following accounting entries:

a. Dr. Inventory 1,000; Cr. Cash 1,000.

b. Dr. Receivables 1,500; Cr. Inventory 1,500.

c. Dr. Receivables 1,000; Cr. Inventory 1,000.

d. Purchase of asset is not recorded in financial statements of banks.