A owns $60$ shares $(10$$ per share basis$)$ $$600$ total adjusted basis and B owns $40$ shares $($$$30$ per share basis$)($$$1200$ total adjusted basis$)$ of X$,$ representing all of X$$s outstanding shares. A and B are unrelated unless otherwise stated. X has $$500$ E&P$.$ What are the results to A$,$ B$,$ and X from the following alternative transactions?

a$)$ A sells all of A$$s X stock to B for $$200$ in cash and $$1,000$ in notes payable over a $10-$year period.