Walmart is the country's largest retailer. Prepare journal entries for the following Walmart transactions:

Walmart is the country's largest retailer. Prepare journal entries for the following Walmart transactions: November 1 Walmart buys i-phones from Apple for $1,500 FOB shipping point, terms of 2/5,n/30, November 5 Walmart pays cash for the November 1 purchase. November 7 Walmart returns $150 of defective merchandise purchased on November 1 , and paid for on November 5. Walmart receives a cash refund. November 10 Walmart pays $75 cash for freight costs for the November 1 purchase. November 13 Walmart sells merchandise with terms n/30 for $1,620 and having a cost of merchandise of $810. November 16 The Buyer from the November 13 transaction returns to Walmart items that sold for $295 and cost $148. Since these items were not damaged, they were returned to inventory