Please answer the following question(s):

Walmart Inc. is the worlds largest retailer. A large portion of the premises that the company occupies are leased. Its financial statements and disclosure notes revealed the following information:

Balance Sheet ($ in millions)
	2017			2016
Assets
Property:
Property under finance lease obligations	$	11,637		$	11,096
Less: Accumulated amortization		(5,169)			(4,751)
Liabilities
Current liabilities:
Finance lease obligations due within one year		565			551
Long-term debt:
Long-term finance lease obligations		6,003			5,816

Required: 1. The net asset property under finance lease obligations has a 2017 balance of $6,468 million ($11,637 $5,169). Liabilities for these leases total $6,568 ($565 + $6,003). Why do the asset and liability amounts differ?

2. Prepare a 2017 summary entry to record Walmarts lease payments, which were $800 million.

3. What is the approximate average interest rate on Walmarts finance leases? Explain what an average interest rate is and why it is important to Walmart.