Transcribed Image Text: 11. You have recently been hired to improve the performance of MJ Cor., which has been experiencing a severe cash shortage. As one part of your analysis,

Transcribed Image Text: 11. You have recently been hired to improve the performance of MJ Cor., which has been experiencing a severe cash
shortage. As one part of your analysis, you want to determine the firm’s cash conversion cycle. Data gathered were
as follows:
Current inventory
Annual sales
:P120,000
: P600,000
:P157,808
:P25,000
: P365,000
: net 30 days
: net 50 days.
Accounts receivable
Accounts payable
Total annual purchases
Purchases credit terms
Receivables credit terms
Using 365-day year, the estimated current cash conversion cycle (in days) is?
A. 49
В. 100
С. 144
Е. 193
D. 168

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