If the bank of Canada sells $2 million of bonds to Irving the Investor, who pays for thebonds with a briefcase filled with currency, what happens to reserves and the monetarybase? Use T-accounts to explain your answerg

7. If the bank of Canada sells $2 million of bonds to Irving the Investor, who pays for the bonds with a briefcase filled with currency, what happens to reserves and the monetary base? Use T-accounts to explain your answer. ( 6Marks)