Mr. Ali is a local exporter in Oman and exports organic products to various countries. During his sales last year he exported goods to Bahrain, UAE, Kuwait, and Jordan. Mr. Said is an importer from Jordan. Ali is flexible in his transactions with its customers and provides them with both the options i.e. cash and credit. On 12th September 2019, Ali exported goods to Said for OMR 78,000. Said agreed payment terms with him later to which Ali drew a four months bill. Said received the bill and returned without signing it. On 15th September Ali drew a new bill for the same amount on Said, which was accepted. Ali needed funds, he tried to arrange through various sources however nothing worked in his favor, and on 15th October he decided to get the bill discounted with Bank Dhofar @ 8% p.a. as he is one of its corporate customers. The bill is duly met on the due date. Assume that the bank prepares its financial statements at the end of the year as on 31st December. You are required to: a) Comment why Ali has to draw the second bill on Said and the importance of acceptance (150 words minimum/ 2 Marks) b) Calculate the amount received by Mr. Ali on discounting the bills ( 50 words minimum/1 Mark) c) Give journal entries in the books of bank assuming the bill is met at the maturity (2 Marks)