46. ABC subscribed to 150 common shares on January 1, 2020 at the par value of P100. A 25% down payment was given by ABC, the balance payable in two equal installment, on January 30 and March 30 ABC paid the 1st installment but defaulted in the 2nd installment. The unpaid subscription was offered for sale in a public auction. Advertising cost amounted to P750. The following made a bid: 1. DEF 2. GHI 3. JKL 4. MNO 1. How much the receivable 2. Who is the highest bidder? 3.What will be the distribution of shares? Choice Receivable 3,750 5,625 6,375 100 shares 120 shares 135 shares: 140 shares from the bidder? 11.250 Highest Bidder GHI-120 shs JKL-135 shs DEF-100 sh Distribution GHI-120 shs and ABC- 30 shs JKL-135 shs and ABC- 15 shs DEF-100 shs and ABC-50 MNO-140 shs MNO-140 shs and ABC- 10 sh