Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $28,000 and has cash on hand of $21,000 contributed by Lanni's owners. For each of the following transactions, identify the real andior financial assets that trade hands. Are any financial assets created or destroyed in the transaction? e. Lanni takes out a bank loan. It receives $39.000 in cash and signs a note promising to pay back the loan over 3 years. The bank loan is a for Lanni, and a for the bank. The cash Lanni receives is a . The new financial asset is Lanni's promissory note to repay the loan. b. Lanni uses the cash from the bank plus $21,000 of its own funds to finance the development of new financial planning software. Lanni transfers (cash) to the software developers. In return, Lanni receives the completed software package, which is a 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 1,300 shares of Microsoft stock. Lanni exchanges the (the software) for a . Which is 1,300 shares of Microsoft stock. If Microsoft issues new shares in order to pay Lanni, then this would represent the creation of new d. Lanni sells the shares of stock for $36 per share and uses part of the proceeds to pay off the bank loan. By selling its shares in Microsoft, Lanni exchanges one (1,300 shares of stock) for another ( $46,800 in cash). Lanni uses the of $39,000 in cash to repay the bank and retire its promissory note. The bank must return its to Lanni. The loan is in the transaction, since it is retired when paid off and no longer exists. Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $28,000 and has cash on hand of $21,000 contributed by Lanni's owners. For each of the following transactions, identify the real andior financial assets that trade hands. Are any financial assets created or destroyed in the transaction? e. Lanni takes out a bank loan. It receives $39.000 in cash and signs a note promising to pay back the loan over 3 years. The bank loan is a for Lanni, and a for the bank. The cash Lanni receives is a . The new financial asset is Lanni's promissory note to repay the loan. b. Lanni uses the cash from the bank plus $21,000 of its own funds to finance the development of new financial planning software. Lanni transfers (cash) to the software developers. In return, Lanni receives the completed software package, which is a 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 1,300 shares of Microsoft stock. Lanni exchanges the (the software) for a . Which is 1,300 shares of Microsoft stock. If Microsoft issues new shares in order to pay Lanni, then this would represent the creation of new d. Lanni sells the shares of stock for $36 per share and uses part of the proceeds to pay off the bank loan. By selling its shares in Microsoft, Lanni exchanges one (1,300 shares of stock) for another ( $46,800 in cash). Lanni uses the of $39,000 in cash to repay the bank and retire its promissory note. The bank must return its to Lanni. The loan is in the transaction, since it is retired when paid off and no longer exists