Highsmith Rental Company purchased an apartment building early in $2024.$ 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:

$\backslash$table$[[$Appliance$,$Cost,$\backslash$table$[[$Residual$],[$Value$]],\backslash$table$[[$Service Life$],[($in Years$)]]],[$Stoves$,$$$39,000,$$$3,000,6],[$Refrigerators$,34,000,4,000,5],[$Dishwashers$,32,000,3,000,4]]$

In $2027,$ two new refrigerators costing $$3,900$ were purchased for cash. In that same year, the old refrigerators, which originally cost $$3,900,$ were sold for $$1,400.$

Required:

Calculate the group depreciation rate, group life, and depreciation for $2024.$

Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators.

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Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account fleld.