Hi I need help on what is the journal entries for this activity. Answer with explanation is highly recommended. I hope that you can help me and surely I will give you positive feedback

PERFORMANCE TASK Q10-10.1.1 PERFORMANCE TASK TITLE: Delinquent Shares PERFORMANCE OBJECTIVE: To explain and record delinquent shares. TOOLS AND EQUIPMENT: paper, pen, two-column journal and calculator PROCEDURE: Give the journalentry. A subscribe to 100 common shares on June 1, 2013 at the par value of P100. A 25% down payment was given by A, the balance payable in two equal installments, on June 30 and July 30. He paid the first installment but defaulted in the second installment. The unpaid subscription was offered for sale in a public auction. Advertising cost amounted to P500. D make a bid for 90 shares, E for 75 shares and F 80 shares. E being the highest paid the amount due plus interest of P425. Stock certificates were issued to A and E. PRECAUTIONS: use correct account titles. ASSESSMENT METHOD: PERFORMANCE TASK CRITERIA CHECKLIST