June Smith, a process engineer, has sold her $15-$year patent for a new etching process to Silica Labs, Inc. In return, she has received $$500,000$ in cash and, based on its value on the sale date, $$200,000$ in common stock in Silica Labs. The stock is forecasted to double in market value over the next two months.

How would this transaction be recorded by Silica Labs?

a$)$ Debit patent account $$700,000$; credit cash $$500,000$; credit common stock $$200,000$

b$)$ Debit cash $$500,000$; debit common stock $$200,000$; credit patent account $$700,000$

c$)$ Debit cash $$500,000$; credit patent account $$500,000$

d$)$ Debit patent account $$500,000$; credit cash $$500,000$