Bai Min is looking for a new house, a new converted to Islam, he is sticking to the rules of Sharia and would like to run a business which requires a capital of 2,000,000 MAD accordingly, but he only was 500,000 MAD , and he wishes to get his total ownership in 3 years. You are working at MIB (Moroccan Islamic Bank) and you show him what it would look like if he signs up for Musharakah Mutanaqisah contract.

1. Give Bai Min a complete and detailed schema about how this diminishing Musharakah looks like.

2. Throughout the 3 years, the business made : 150,000 MAD profit, 200,000 loss ,and 200,000 profit. Write the journal entries of the 3 years Musharakah contract from The MIB side.

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