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Duboi Islamic tank provides an an MBT financing to Al Hilal Construction to a special equipment for a period of 4 years am purchases the

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Duboi Islamic tank provides an an MBT financing to Al Hilal Construction to a special equipment for a period of 4 years am purchases the special con from Japan Jory 1, 2015 for $12.000,000.00 (twelve million) and incurred a transportation cost of $500,000.00 (five hundred thousand. There is also legal cost of $100.000,00 en hundred the which the bank considered to be material Installments should be paid every quarter. The rental payment was gred 5400.000,00 (four hundred thousand per month. The fir value of the equipment her your intimated 500.000,00 (five hundred to in the second and third years, the company repair costa me 580.000,00 (ehty holly) 540,000.00 (fony thousand only). A maior con of $50,000.00 thousand only due to wonder is sed in Year 3. Ar the end of the jar contract, the streered to be value Required Prepare the journal entries to record the Ijara MBT contract in Dubai Inlamic Bank's book for all the contract years (mark 5) 2. Prepare the income statement of DIB showing the four years' net income or losses. marks) For the toolbar, press ALTF1Dr ALTEN.FIOMI Duboi Islamic tank provides an an MBT financing to Al Hilal Construction to a special equipment for a period of 4 years am purchases the special con from Japan Jory 1, 2015 for $12.000,000.00 (twelve million) and incurred a transportation cost of $500,000.00 (five hundred thousand. There is also legal cost of $100.000,00 en hundred the which the bank considered to be material Installments should be paid every quarter. The rental payment was gred 5400.000,00 (four hundred thousand per month. The fir value of the equipment her your intimated 500.000,00 (five hundred to in the second and third years, the company repair costa me 580.000,00 (ehty holly) 540,000.00 (fony thousand only). A maior con of $50,000.00 thousand only due to wonder is sed in Year 3. Ar the end of the jar contract, the streered to be value Required Prepare the journal entries to record the Ijara MBT contract in Dubai Inlamic Bank's book for all the contract years (mark 5) 2. Prepare the income statement of DIB showing the four years' net income or losses. marks) For the toolbar, press ALTF1Dr ALTEN.FIOMI

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