Al Rajhi Bank contributed $300,000 for a six-year Mudaraba financing contract (Mudarabah Muqayaddah) at the profit sharing ratio of 3:1 between the Bank (Rabb al-Mal) and Aramco Corporation (Mudarib) respectively. Assume that the venture incurred a loss of 450,000 Riyals in the first year, realized profit of $40,000 in the second year; realized profit of 70,000 in the third year, realized profit of $120,000 in the fourth year, incurred a loss of 390000 in the fifth year, and realized a profit of 20000 in the sixth year. Required: A. Prepare the necessary journal entries to recognize asset and profit/loss of the above transactions, and show how profit/loss will be allocated between the Bank, and the Mend of first second third, fourth, fifth and sixth year, if the profit of Mudarabah is determined at the end of I. each period II. at the end of the contract Date Acconts and Explanation Debit Credit Year 0 Year! Year 2 Year 3 Year 4 Years Year 6 2. At the End of the contract method Acconts and Explanation Debit Credit Date Year 1 Year 6