Case 4: PART - A..(5 Marks) Bank Dhofar Trade Finance Unit is handled by a team of skilled Omani staff who support the import and export requirement of Retail & Wholesale Banking business segment of the Bank. Trade Finance conducts provides various services for its corporate clients. The Unit provides all spectrum of products such as: Export Bill Financing, Bill Discounting Buyers Credit Financing and Discounting against Bank Lines. Its practice while calculating the rebate on bills discounted 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 Bank Dhofar for the year ending 31 March 2018. You are given with opening balances at the beginning of the year and total Bills purchased during the year amounting to OMR 5,130,000. The balance of discount received during the year was OMR 912.500. The opening balance of rebate on bills discounted was OMR 55.000. 91 78e Additional information on bills discounted during the year is as follows: Date of bills Amount. OMR Term months Discounted at % per annum 10 8 4 6 27th November 30th December 25th January 17th February 30th March 390,000 980,000 1420,000 1860,000 480,000 3 3 12 9 10 4 Keeping in view all the information provided you are required to prepare: a) Calculate the rebate on bills discounted for the above bills b) Show the discount account in the books of Bank Dhofar (4 Marks) (1 Mark) 3)