Khaled and Omar agreed on 1/1/2020 to form a partnership company with a capital of 8,000,000 riyals distributed equally between them. The following assets after being re-evaluated and it was agreed to withdraw the excess, if any, or to pay the shortfall, if any.

1. Statement            Book value             fair value 
2. Machines                 2,000,000               1,500,000
3. 
   
4. computers               600,000                    400,000
5. 
   
6. furniture                  1,000,000                  700,000
7. 
   
8. Commodity stock   900,000                    800,000
9. 
   
10. Receipt papers         500,000                   500,000

Required:
1- Determine the net asset value provided by the partner Omar.
2- Determining the cash due from the partner, Omar, after calculating the value of the assets he provided.
3- Writing the necessary accounting entries in the company's books.
4- Preparing the opening budget of the company on 1/15/2020