apter 11 homework Saved Help Save & Exit Submit Check my work 8. Highsmith Rental Company purchased an apartment building early in 2021. There are 20 apartments in the building and each is furnished with major kitchen appliances. The company has decided to use the group depreciation method for the appliances. The following data are available: Appliance Stoves Refrigerators Dishwashers Cost $37,eee 32, eee 30, eee Residual Value $4,000 3, eee 2,000 Service Life (in Years) 6 5 4 Book In 2024, three new refrigerators costing $3,800 were purchased for cash. In that same year, the old refrigerators, which originally cost $3,700, were sold for $1,300. Required: 1. Calculate the group depreciation rate, group life, and depreciation for 2021. 2. Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators. Mail guy 160 U... Connect To Do As! Customer Revie hapter 11 homework Saved 8 Complete this question by entering your answers in the tabs below. Required 1 Required 2 11 ints Calculate the group depreciation rate, group life, and depreciation for 2021. (Round "Gro answers to 2 decimal places.) eBook % Hint Group depreciation rate Group life Depreciation for 2021 (Straight Line) years References Required 1 Required 2 Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators. (If no entry is for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the purchase of new refrigerators, homework i Saved Help Journal entry worksheet 1 2 Record the purchase of new refrigerators. Note: Enter debits before credits. Event General Journal Debit Credit 1 earch O L Vw ework a Saved Hels - FEE Record the sale of old refrigerators. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View general journal 8 9 # Next