Walmart Incorporated is the world$$s largest retailer. A large portion of the premises that the company occupies are leased. Its financial statements revealed the following information:

$($Amounts in millions$)$ July $31,2020$ July $31,2019$

Assets

Operating lease right$-$of$-$use assets, net $ $16,869$ $ $17,239$

Finance lease right$-$of$-$use assets, net $4,8433,949$

Liabilities

Current liabilities:

Operating lease obligations due within one year $1,7341,795$

Finance lease obligations due within one year $549439$

Long$-$term debt:

Long$-$term operating lease obligations $15,66916,079$

Long$-$term finance lease obligations $4,6733,915$

Required:

The net asset $$Finance lease right$-$of$-$use assets, net$$ has a July $31,2020$ balance of $$4,843$ million. Liabilities for these leases total $$5,222($$$549+$ $$4,673).$ Why do the asset and liability amounts differ?

Prepare a journal entry that summarizes Walmart$$s finance lease payments for the twelve months ended July $31,2020.$ Walmart$$s income statement reports finance lease interest of $$331$ million.