On September 20, 2023, Abdul Rahman, Zaid, and Osama agreed to establish a joint-liability company with a capital of 800,000 dinars, distributed among them in a ratio of 3:1:1, respectively. On 11/5/2023, the partners paid half of their shares in the capital in cash and pledged to pay the remainder of their shares in the capital on 10/1/2024.
Required:
1- Writing the necessary accounting entries in the books of the joint liability company.
2- Opening the capital account and the partners' shares account on 12/31/2023.
3- Preparing the company's final budget on 12/31/2023.