The following Trial balance of Bayan Assurance company LLC as on 31/12/2020 Debit Balance OMR Credit Balance OMR Claims by death 270,000 Share capital 200,000 Claims by maturity 230,000 Life assurance fund(1.1.2020) 3,238,200 Bonus in reduction of premium 45,500Claims outstanding 25,000 (1.1.2020) Commission 12,500 Premium less reinsurance 550,100 Management expenses 50,300 Outstanding commission 2,000 Building 50,000 Policy renewal fees 1,500 Investments 2,765,000 Interest and dividends 290,000 Mortgages in Oman 550,000 Loans on company's policies 215,000 Outstanding premium 20,000 Surrenders 8,300 Dividend paid 20,000 Cash at bank 34,000 Cash in hand 23,200 Agent's balance 13,000 4 306 800 TOTAL 4 306 RONTOTAI Cash in hand 23,200 Agent's balance 13,000 TOTAL 4,306,800 TOTAL 4,306,800 You are required to prepare the company's revenue account for the tear ended 31/12/2020 and its balance sheet as on that after taking the following matters into consideration: Particulars OMR Claims outstanding at the end of the year 20,000 Interest accrued but not received 19,500 Further bonus utilized in reduction of 8,500 premium Claims covered under reassurance 12,000