On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $840,000 and $370,000, respectively. On the date of the sale, the book value of the patent was $ $165,000, and the book value of the equipment was $454,000 (cost of $649,000 less accumulated depreciation of $195,000) Prepare the journal entries to record the sales of the patent and equipment.

Explanation:

The question asks for an estimate of 11.4³.

To calculate 11.4³ exactly to must multiply 11.4 × 11.4 × 11.4.

But to have an estimate, the easiest way is to round 11.4 to 11 and find 11³ = 11 × 11 × 11.

That is not a difficult operation.

That is equal to 11² × 11.

        11 × 11 = (10 + 1) × 11 = 110 + 11 = 121

         11 × 121 = (10 + 1) × 121 = 10 × 121 + 121 = 1210 + 121 = 1331

There you have your option C. 1331.