Required:

a$.$ Lanni takes out a bank loan. It receives $$50,000$ in cash and signs a note promising to pay back the loan over three years. The bank loan is a real liability $$ for Lanni. Lanni's $$50,000$IOU is the bank's real asset $$ The cash Lanni receives is a $-$ The new financial asset $$ created is Lanni's promissory note held by the bank.