Ahlibanks Financial Institutions Group (FIG) is responsible for the banks correspondent banking relationships. FIG has a dedicated team of professionals to develop and maintain long-lasting relationships with their clients and concerning its financial services, FIG purchased bills from its various Corporate Customers on different dates throughout the year. While calculating the rebate on bills discounted, the bank generally considers 365 per annum except for a leap year. You have newly joined as an assistant in the accounts department and the following particulars are extracted from the books of Ahlibank for the year ending 31 March 2018. You are given with opening balances at the beginning of the year, the total Bills purchased during the year amounting to OMR 6,000,000. The balance of discount received during the year was OMR 350,000. Last year closing balance of rebate on bills discounted was OMR 90,800. Additional information on bills discounted during the year is as follows: Date of the bills purchased Amount OMR Term months Discounted at % per annum 16th February 1300,000 3 8 25th December 800,000 3 12 29th January 1500,000 3 11 15th November 200,000 4 10 21th February 1800,000 2 9 28th March 400,000 4 10 Keeping in view all the information provided you are required to prepare: a) Calculate the rebate on bills discounted for the year ending 31st March 2018 (4 Marks) b) Show the discount account in the books of Ahlibank ( 1 Mark)