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Bank Muamalat provides a financing facility based on the Murabaha principle to Barakah Manufacturing to...

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Accounting

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Bank Muamalat provides a financing facility based on the Murabaha principle to Barakah Manufacturing to purchase a special equipment for their factory. The financing amounted to $900,000 at a constant rate of return of 16% per year for a period of 7 years. How much in the Murabaha receivable balance at the end of Year 32 7000 7710

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