Should the gross profit of $66,000 be divided by three for the Mudarabah partner, or should the bad debt of $32,000 be deducted first, and then the remainder divided?

The jurists have agreed that profit is a safeguard for the capital, so there is no profit until the capital is safe. Therefore, any loss incurred in the Mudarabah (definition) capital - such as uncollectible debts - is first compensated from the profit, and then the remaining profit is distributed. Accordingly, the bad debt is deducted and compensated from the profit, and the actual profit will be $34,000, which is to be divided between the two partners according to their agreement. It is stated in Majma' al-Abhur: "Whatever is lost from the Mudarabah capital is first attributed to the profit, not to the capital, because it is a تابع (subordinate/contingent) and the capital is an أصل (principal/origin), so the loss is attributed to the تابع." If the debt can be recovered later, it is to be divided between the two partners according to the agreement, because it is part of the profit.