Dhafer Islamic Bank (DIB) enters into a Salam contract with Hadi Corporation to receive a predetermined quantity

Question:

Dhafer Islamic Bank (DIB) enters into a Salam contract with Hadi Corporation to receive a predetermined quantity of sugar on Aug 19, 2022. The advance payment for the sugar was Tunisian Dinars

(TND) 565,000. When Hadi Corporation delivers the commodity to DIB, the entries DIB makes in its books will be:

a. Dr. Salam Inventory – Sugar 565,000; Cr. Salam Financing (Liability) 565,000

b. Dr. Salam Financing (Asset) 565,000; Dr. Salam Inventory – Sugar 565,000

c. Dr. Salam Inventory – Sugar 565,000; Cr. Salam Financing (Asset) 565,000

d. Dr. Cash 565,000; Cr. Salam Financing (Asset) 565,000

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I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal. I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).

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