You are provided with the financial statements of a South African retail giant:

Extract of the Statement of Financial Position $($Balance Sheet$)$

$2022($Rand Millions$)$

$2021($Rand Millions$)$

Current Assets

Inventory

$440$

$800$

Debtors

$1,600$

$1,200$

Cash

$500$

$220$

Current Liabilities

Creditors

$680$

$1,040$

Extract of the Statement of Comprehensive Income $($Income Statement$)$

$2022($Rand Millions$)$

$2021($Rand Millions$)$

Sales

Cash Sales

$5,100$

$1,800$

Cost of sales

$1,720$

$1,300$

Use the above information and assume a $360-$day year to answer the following questions: $($Round off your answer to the nearest days$).$

Tasks:

Calculate the Inventory Convention Period $($ICP$),$ Average Collection Period $($ACP$),$ Accounts Payable Deferral Period $($APDP$)$ and Cash Conversion Cycle $($CCC$)$ of the retailer for the year $2022.(20$ marks$)$

The management has asked you for your advice on three techniques that they could implement to ensure that their debtors pay early. Provide these techniques. $(5$ marks$)$