please help me solve this problem, and provide an explanation. thank you

ABC Corporation which issues P15 par value ordinary shares, completed the following transactions during 2021:

1.) Received subscription from Martinez for 25,000 shares at P18 per share

2.) Received from Martinez 45% of the subscription price.

3.) On due date, Martinez failed to pay the balance of the subscription. The shares were subsequently declared delinquent and were advertised for sale at a public auction.

4.) Paid P4,000 for advertising the sale of the delinquent shares

5.) Received bids from the following

Recto 10,000 shares

Zubiri 9,000 shares

Pichay 12,000 shares

6.) The amount due from the highest bidder plus 12% interest for two months on the balance of the subscription price was collected. Shares were accordingly issued

Required

(a) Prepare journal entries for the foregoing

(b) Who is the highest bidder? Determine the share allotment between the highest bidder and Martinez