+ Peoples Bank provides the range of services such as issuing letter of credit to its corporate customers, it also deals with import and export bills and discounting the bills of exchange. Following are the bills purchases during the year; Date of bills Amount OMR Term months Discounted at % per annum 10th October 500,000 2 6% 15th October 650,000 4 9% 15th November 176,000 5 11% 28th November 750,000 3 8% 20th December 670,000 5 15% You are given a role of an assistant in the accounts department and the following particulars are extracted from the books of Sohar International Bank for the year ending 31 December 2019. The opening balances at the beginning of the year and total bills purchased during the year amounting to OMR 3,600,000. The balance of discount received during the year was OMR 150,000. The opening balance of rebate on bills discounted was OMR 15,000.