Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. Choose the correct answer in the following statements about financial and real assets. a. Lanni takes out a bank loan. It receives $50,000 in cash and signs a note promising to pay back the loan over three years. The bank loan is a for Lanni. Lanni's $50,000 IOU is the bank's . The cash Lanni receives is a . The new financial asset is Lanni's promissory note held by the bank. b. Lanni uses the cash from the bank plus $20,000 of its own funds to finance the development of new financial planning software. The cash paid by Lanni is the transfer of a to the software developer. In return, Lanni gets a , the completed software. c. Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name. Lanni accepts payment in the form of 2,000 shares of Microsoft stock. Lanni sells the software, which is a , to Microsoft. In exchange Lanni receives a , 2,000 shares of Microsoft stock. A new financial asset is if Microsoft issues new shares. d. Lanni sells the shares of stock for $70 per share and uses part of the proceeds to pay off the bank loan. In selling 2,000 shares of stock for $140,000, Lanni is exchanging one for another. In paying off the IOU with $50,000, Lanni is exchanging . The loan is in the transaction, since it is retired when paid.